I'm fuming. I was half listening to radio 5live after the champions league matches on wednesday night when they went to a news. When talking about the cause of the latest unemployment figures a Labour MP (it was a woman, but I didn't catch her name) was quoted as saying something along the lines of
"it is down to the coalition policy. They're trying to pay back to mortgage in four years"
Now the first bit didn't bother me. I will try to blog a rough guide later to the Labour vs coalition approach to fixing the economy and national finances.
The bit that really annoyed me was "paying back the mortgage in 4 years" It is simply not true.
I understand why politicians want to explain the Governments financial crisis in a way that can be easily understood, but this was not even close. She could have said "the Government has chosen to stop using the credit card to pay the interest on the mortgage over the next 4 years", it would have been a better summary, but also may have sounded rather sensible.
Lets be clear, the Government have no intention of paying back a single penny of the debt over the next 4 years. In fact the government will be adding to it for a few years yet. They're trying to get rid of the deficit, in other words to gradually reduce spending so by 2014 the amount the government spends is the same as what it receives and the debt stops increasing.
Now the first bit didn't bother me. I will try to blog a rough guide later to the Labour vs coalition approach to fixing the economy and national finances.
The bit that really annoyed me was "paying back the mortgage in 4 years" It is simply not true.
I understand why politicians want to explain the Governments financial crisis in a way that can be easily understood, but this was not even close. She could have said "the Government has chosen to stop using the credit card to pay the interest on the mortgage over the next 4 years", it would have been a better summary, but also may have sounded rather sensible.
Lets be clear, the Government have no intention of paying back a single penny of the debt over the next 4 years. In fact the government will be adding to it for a few years yet. They're trying to get rid of the deficit, in other words to gradually reduce spending so by 2014 the amount the government spends is the same as what it receives and the debt stops increasing.
They all sing from the same corporate hymn sheet: http://goo.gl/kaoin
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