Barry, there is no way the present spending-cuts can even reduce the national debt (£900+billion), not even over a period of many years.
They might just suffice to reach a point where there is no annual budget deficit, but only by tightening spending even more and increasing taxes, and that would take a few years still.
But by then, so many people will have lost their job, or not got a job in the first place, and many will have lost their house through not having a job and not being able to pay the mortgage. And much more of the same and similar.
So there has to be another way. That's where people start speaking of fat cats.
As always, on this issue you are alone against the whole Forum,
