Friday, July 11, 2014

Paying for their mistakes

To paraphrase Margaret Thatcher, socialism only works till someone else's money runs out. In our case it was the previous Labour government spending like there was no tomorrow as in a politicians eyes, no tomorrow means after the next election. What they did was borrow and kept on borrowing past the bounds of sanity to bloat the public sector and give jobs for the boys by allowing senior executive posts at hugely inflated wages to spring up all over the country.
Future generations will have to work longer to pay off Britain's debts because of the pressure that Britain's ageing population is putting on public finances, the independent financial watchdog has warned.
The Office for Budget Responsibility said that Coalition policies such as raising the state pension age and further cuts will reduce Britain's debt as a proportion of national income by two thirds.
It found that without the measures, Britain's debt would be £1.14 trillion higher in the next 50 years as the economy struggles to cope with an huge rise in the number of pensioners and the decline in the number of people working.
Yes we have an ageing population, but we aren't helping by being in the EU and having mass uncontrolled immigration either taking jobs from locals and adding to the states spending on benefits. Unfortunately Labour with the idiocy known as quantitative easing pumped masses of cash into the economy by printing money, sold off the family silver (literally in Gordon Brown's case) and mortgaged us to the hilt before we could get rid of the incompetent rats. This all naturally has to be paid back and the result is a probable rise in retirement age and the current unrest in the public sector as pay restraint and reality comes home to roost in the way that their gold plated pensions are now under serious threat.
The thing that gets me though is that despite all this there are some people who will still vote for Labour despite them bolixxing up the economy every time they gain power. Not that I'm a great fan of the Tories either and generally have nothing but contempt for the Lib Dems. Still with the Tories at least they kept the economy working if only to cream a bit off for themselves later on via directorships, they usually didn't take the damned country down with them.
Future generations will be paying off Labours 'mistakes' long after we're all gone, they'll work longer and probably not enjoy their retirement at all.
That is socialism for you in a nutshell.

2 annotations:

Mr. Morden said...

The Office for Budgetary Responsibility is NOT in any shape or form independent.

It was set up by government, and is paid for by the taxpayer, to tell the government what the masses think they should know.

To that end, it reads to me that, this is all our fault for having the temerity to get old and, live beyond our worth to the State and be endless cash / tax cows for which, Quango's like the OBR, feed off.

Perhaps if we did not have Quango's like this one and all the others, we would not need to rape and pillage the productive side of the economy to feed a rather unnecessary and useless parasite class.

Just my £0.02p

Quiet_Man said...

Sadly I believe you are correct Mr. Morden.