Sunday, 21 June 2009

Public Sector Borrowing Hits Record Highs.

The BBC reports Public Sector Borrowing for May hit a new high: £19.9 Billion Pounds. Since the start of the financial year, the total is £30 billion. So, as the financial year starts in April, we borrowed £10.1 billion in April.

If the election doesn't happen until May and if borrowing stays at £20 Billion a month until then, thats another £240 Billion added to the national debt.

This is a truly staggering amount of debt to rack up and a truly staggering amount of monthly spend, for no discernible benefit. Thats of course if we can find people to fund it. I have my thoughts on that already, but I'll keep quiet on the subject for now.

The thing to ask is what is all that money going on? If there's such a huge imbalance in the budget, why aren't we trimming fat in order to reduce costs? Why would the government continue on such a suicidal and costly (in the long term) policy?

More and more I become suspicious of this government's intentions.

The simple answer is that Labour think that continuing public spending at current levels, they will keep core labour voters (voters who will be getting tax credits, child benefit and Jobseekers Allowance and voters employed in government-funded call centres, quangos and faux charities).
Labour are spending billions they haven't got (billions you and I and our children will have to repay), in an attempt to buy the result of the next election.

Such behaviour is reprehensible and undemocratic. It should be stopped immediately.


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