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It’s time to admit you got it wrong, people…

by Marrick on June 26, 2012

George-Osborne

Britain is slowly sinking into the doo-doo as weaker tax receipts from the recession-bedevilled economy emptied out the Treasury’s chamber pot.

Figures from the Office for National Statistics showed that net borrowing (excluding the bit the bankers stole from us) stood at a tad under £18 billion last month. This is up from the £15 billion it was in May 2011.

The idiots who pose as analysts (only the first four letters are correct) in the City expected net borrowing to come in at around £14.5 billion. Whoever pays their wages are simpletons. Oh… we do.

Anyway, tax receipts were down more than 7% on May 2011 and government spending was UP 8%.

So… Tory apologists… What do you have to say to that? So far, all of us who actually understand the economy have said:

1) Cutting public services and increasing unemployment will increase the demand on the public purse and cut receipts to the Exchequer

CHECK!

2) The Chancellors actions will result in a flat or shrinking economy

CHECK!

3) That as a consequence of this, borrowing will actually increase, not decrease.

CHECK!

4) The ONLY way out of this recession is to fund growth through borrowing to invest in the economy, not borrowing to patch over the economic incompetence of the government.

Check mate!

This lot have screwed things up and it##Q##s time you lot admitted it. Yes Missus Daily Mail Reader from Reading – I mean YOU.

We were on the way back to recovery with Gordon##Q##s plan, but NOW we are so far in the poo that we might need breathing apparatus.

Here’s a list of people who got it wrong:

  • The Conservative / Liberal Coalition
  • Daily Mail readers
  • Sun readers
  • The IMF
  • The German government
  • The old French Government
  • Neo-Liberals everywhere
  • Everyone who voted for the Tories
  • The City, especially the anal boys.
  • The BBC economics department
  • Dave and Gideon.

This isn’t an exclusive list, but it covers most of the bases. It’s time they owned up, explained that they really didn’t know what they were doing and turned the economy over to the clever people, like Paul Krugman.

3 thoughts on “It’s time to admit you got it wrong, people…

  1. Mike says:

    Its not as simple as whether to make or not make cuts to services though

    And cutting a civil servant, even if they go on the dole is still cheaper than paying them a wage

    The “unknown” is what and how much impact that person not spending a wage then has on the economy, and nobody can effectively predict that especially in a climate like we have now where people are spending less due to uncertainty

    I dont see how its worth trying to single out who is “wrong” though, because based on assing the government would make decisions and choices that would benefit the voters and the majority of the population rather than just a very small minority is a pretty constant “mistake” people have been making for decades

    And whether its labour or the tories in power people will continue to “get it wrong” if theyre going to keep making the same inane assumptions that our government are in politics trying to do the best for the people who voted for them or the countries population at large

    They arent, theyre in politics trying to do the best for themselves and for the companies that financed their political careers and the institutions that will make sure they stay wealthy until they croak

    What we have here is less tax being collected, and much of what is collected is wasted on layer after layer of overpaid bureacrats, overpriced privatised services and pointless quangos and committees so that very little of whats actually collected ever gets anywhere near the services it was collected for

    That was true and increasing under labour and will continue under the tories too

    So the only constant here is that taxes will keep increasing, tax payers will keep getting less and less for their money and more and more of what we are paying more and more to recieve will end up being privided by a private company and costing us more despite the tax bill already being collected for it failing to decrease proportionately

    So as long as everyone just keeps predicting more taxes, fewer services more stealth taxes, fewer rights, larger gaps between the poor and wealthy and more national debts they will ALWAYS get it right as long as any of the main parties are in power

    Expecting anything else is somwhere between naive and lobotomised really

    What was it that einstien said?

    The definition of insanity is doing the same thing over and over and expecting different results?

    We let our political system get more and more elitist, more and more secretive, more and more abstracted from the lives of 95% of the population, more and more unnaccountable

    BUT

    We keep expecting it to be better?

    Sheesh lol

  2. Keith says:

    Some good points, Martin, but I would like to point out that this is none of their doing and although they’ve been in power for two years they’re still clearing up Labour’s mess. No, I do apologise, they’ve dropped that one now, it’s not their fault it’s the fault of the nations in the Euro.

    After all this time in governmanet you would think that one of them would have the guts to stand up and take responsibility for their actions.

  3. Keith says:

    I would also like to point out that the standard of spelling in this country is dropping.

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