SWP's back
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- Joined
- 29 Jun 2009
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- 89,064
Excellent graph. Maybe a simpleton can even understand it.The Tories have increased the debt because the deficit they inherited was so high and the conditions were terrible for trying to decrease it (you'd normally run up a deficit in a recession and then a surplus through good years).
Labour essentially put a brick on the accelerator and now moan at the Tories that the car is going faster and faster and bleat austerity when they try to apply the brake.
And yes, I'd love to see more public investment, but not at the risk of the size of the resulting debt mountain we'll end up with (and have to pass on to the next generation). The debt's already enormous and had that 2006 - 09 trend continued in the graph above, the debt now would be absolutely colossal.
I think that there's a real lack of personal responsibility at the moment and it's only growing. Everyone has to have the latest thing with no regard to the cost. For many, that's a good alternative to private debt - don't buy shit you can't afford and don't need. @Mëtal Bikër has spoken about it before; there's no concept of luxury any more, just people thinking that because someone they know has the latest phone, car long haul holiday, that they deserve or need the same.
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