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    Oh gawd - one day what I have been explaining might, just might, sink in.

    The debt was always going to increase like this but, under Labour's plans, more so than under the Conservatives.

    The debt cannot be reduced until the deficit has been eliminated and there is a surplus in the current account.

    I have argued all along that the spending cuts are not deep enough and too slow. The deficit is reducing though too slowly because there are not enough cuts and growth is below projections.

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