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Brian - you just do not get it at all.
The privatisations done by Mrs T of what were heavily taxpayer subsidised industries and is nothing to do with the deficit now. It did help solve the spending deficit in the 80's though, it was part of the solution then.
Then your other point, what you are saying is that if you went out and spent £1200 per month while earning only £1000 a month you are doing no wrong because you should be earning the £1200. That is simply mad.
You need to spend to what is affordable and not to what you want to spend.
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