Re: Coalition to break? : Fri Aug 10, 2012 10:03 am  

XBrettKennyX wrote:

It's quite simple.

Labour overspent. They effectively ran up an unprecidented "credit card bill".

No they didn't. Until our wonderful banking institutions decided to play fast and loose we had a very good balance of payments. Facts hey, tricky things.

Re: Coalition to break? : Fri Aug 10, 2012 10:04 am  

XBrettKennyX wrote:

It's quite simple.

Labour overspent. They effectively ran up an unprecidented "credit card bill".

The only sensible thing to do is to pay off this credit card bill. That unfortunately means pain.

I find it very amusing to hear Labour giving economic advice on "how fast" to cut the bill, considering they were the ones who created it! It's a bit like a compulsive gambler giving advice on how to be prudent with money.

No they didn't, government debt & deficit is nothing like a credit card bill.

How much of this "bill" should they pay off? All of it?

Really? Labour caused Lehmann Brothers to collapse? Interesting, if strange point of view.

[DaveO]

Re: Coalition to break? : Fri Aug 10, 2012 10:25 am  

XBrettKennyX wrote: It's quite simple. Labour overspent. They effectively ran up an unprecidented "credit card bill". The only sensible thing to do is to pay off this credit card bill. That unfortunately means pain. I find it very amusing to hear Labour giving economic advice on "how fast" to cut the bill, considering they were the ones who created it! It's a bit like a compulsive gambler giving advice on how to be prudent with money. What a load of rubbish. The fact of the matter is over its term in office Labour spending was never any more excessive than previous Tory administrations. In fact they ran a surplus from 1998 to 2001. Before the financial crisis of 2008 Labour ran a deficit for 6 years which totaled £201029bn. The Tories ran a deficit for the last 6 years of their last government up to 1997 totaling £222788bn. They had a bigger "credit card bill" than Labour. Here are the facts for you to digest and learn from: http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data#zoomed-picture You may not agree with what they spent than money on which was mostly things like rebuilding schools and getting patients off trolleys in corridors as they were left under Majors previous government but that is a different debate. What is clear is that they spent less on average than the Tories pre-the financial crisis. Since the financial crisis we continue to run deficits of roughly over 4 times the typical amounts of Majors last Tory government and that of Brown. These are facts which you simply cannot refute.

XBrettKennyX wrote: It's quite simple. Labour overspent. They effectively ran up an unprecidented "credit card bill". The only sensible thing to do is to pay off this credit card bill. That unfortunately means pain. I find it very amusing to hear Labour giving economic advice on "how fast" to cut the bill, considering they were the ones who created it! It's a bit like a compulsive gambler giving advice on how to be prudent with money. What a load of rubbish. The fact of the matter is over its term in office Labour spending was never any more excessive than previous Tory administrations. In fact they ran a surplus from 1998 to 2001. Before the financial crisis of 2008 Labour ran a deficit for 6 years which totaled £201029bn. The Tories ran a deficit for the last 6 years of their last government up to 1997 totaling £222788bn. They had a bigger "credit card bill" than Labour. Here are the facts for you to digest and learn from: http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data#zoomed-picture You may not agree with what they spent than money on which was mostly things like rebuilding schools and getting patients off trolleys in corridors as they were left under Majors previous government but that is a different debate. What is clear is that they spent less on average than the Tories pre-the financial crisis. Since the financial crisis we continue to run deficits of roughly over 4 times the typical amounts of Majors last Tory government and that of Brown. These are facts which you simply cannot refute.

Re: Coalition to break? : Fri Aug 10, 2012 11:18 am  

looks like Brett should stick to winning the Lance Todd...

Re: Coalition to break? : Fri Aug 10, 2012 11:32 am  

DaveO wrote: What a load of rubbish. The fact of the matter is over its term in office Labour spending was never any more excessive than previous Tory administrations. In fact they ran a surplus from 1998 to 2001. Before the financial crisis of 2008 Labour ran a deficit for 6 years which totaled £201029bn. The Tories ran a deficit for the last 6 years of their last government up to 1997 totaling £222788bn. They had a bigger "credit card bill" than Labour. Here are the facts for you to digest and learn from: http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data#zoomed-picture You may not agree with what they spent than money on which was mostly things like rebuilding schools and getting patients off trolleys in corridors as they were left under Majors previous government but that is a different debate. What is clear is that they spent less on average than the Tories pre-the financial crisis. Since the financial crisis we continue to run deficits of roughly over 4 times the typical amounts of Majors last Tory government and that of Brown. These are facts which you simply cannot refute. Utter tripe. Labour were in power at the crest of an economic upside, 1991-97 was one of the worst post war recessions.

DaveO wrote: What a load of rubbish. The fact of the matter is over its term in office Labour spending was never any more excessive than previous Tory administrations. In fact they ran a surplus from 1998 to 2001. Before the financial crisis of 2008 Labour ran a deficit for 6 years which totaled £201029bn. The Tories ran a deficit for the last 6 years of their last government up to 1997 totaling £222788bn. They had a bigger "credit card bill" than Labour. Here are the facts for you to digest and learn from: http://www.guardian.co.uk/news/datablog/2010/oct/18/deficit-debt-government-borrowing-data#zoomed-picture You may not agree with what they spent than money on which was mostly things like rebuilding schools and getting patients off trolleys in corridors as they were left under Majors previous government but that is a different debate. What is clear is that they spent less on average than the Tories pre-the financial crisis. Since the financial crisis we continue to run deficits of roughly over 4 times the typical amounts of Majors last Tory government and that of Brown. These are facts which you simply cannot refute. Utter tripe. Labour were in power at the crest of an economic upside, 1991-97 was one of the worst post war recessions.

Re: Coalition to break? : Fri Aug 10, 2012 11:34 am  

XBrettKennyX wrote:

Utter tripe.

Labour were in power at the crest of an economic upside, 1991-97 was one of the worst post war recessions.

Please come back when you have a clue what you are talking about.

Re: Coalition to break? : Fri Aug 10, 2012 11:35 am  

XBrettKennyX wrote:

1991-97 was one of the worst post war recessions.

LOL, living memory is a bit to close to try and re-write.

Re: Coalition to break? : Fri Aug 10, 2012 11:37 am  

A Labour ministers own words, on leaving the Exchequer.......

"Dear chief secretary, I'm afraid there is no money. Kind regards - and good luck! Liam."

Q.E.D.

Re: Coalition to break? : Fri Aug 10, 2012 11:39 am  

Big Graeme wrote:

Please come back when you have a clue what you are talking about.

Please come back when you can actually argue a point through, rather than simply chosing to ignore it.

./must try harder.

Re: Coalition to break? : Fri Aug 10, 2012 11:39 am  

XBrettKennyX wrote:

A Labour ministers own words, on leaving the Exchequer.......

"Dear chief secretary, I'm afraid there is no money. Kind regards - and good luck! Liam."

Q.E.D.

It was spent trying to dig your banker friends out of the mess they got themselves in, best you do some more reading before making a complete t!t of yourself.