Re: GB on AM


"tim....." <tims_new_home@xxxxxxxxxxx> wrote in message news:6jmmdhF416v7U1@xxxxxxxxxxxxxxxxxxxxx

"Col" <reddwarfer@xxxxxxxxxxxxxx> wrote in message
news:Z4-dnQi3SOdegUvVnZ2dnUVZ8sDinZ2d@xxxxxxxxx

"tim....." <tims_new_home@xxxxxxxxxxx> wrote in message
news:6jmkgcF42g9nU1@xxxxxxxxxxxxxxxxxxxxx
Quote from GB

"I'm the best man to lead the country out of the current difficulties
because I have 'wisdom' which the others don't have"


Well you can hardly expect him to say that he's no better
to lead the country than anyone else, now can you?

Col



Oh and he also rolled out that chestnut about us being better placed than
every other country to weather the storm.

When AM asked him about our debt he said that it was much lower than before
and "manageable"

I wasn't convinced but had no figures to suggest otherwise, but now I do:

http://www.timesonline.co.uk/tol/news/uk/article4795086.ece

"Leading forecasters say the government will soon be forced to borrow as
much as £100 billion a year, giving Britain easily the biggest budget
deficit of any western country"

Of course, the Times could be wrong and GB right, but I very much doubt it.

tim


Easily ? Easily?

Unless of course according to the "Times" at least, the US isn't a "Western country"

Because even at current exchange rates $438bn seems rather larger than £100 bn.

Don't you think ?


<quote>

US budget deficit seen at $438bn

Economic weakness could presage a recession, the CBO warns
The US budget deficit is expected to reach a record $438bn in 2009,
according to estimates from the Congressional Budget Office (CBO).

It also warns the deficit could go higher as the figure does not take
into account possible government costs for taking over Fannie Mae and
Freddie Mac.

The CBO added the US government will run a deficit of $407bn this year.

During the next fiscal year - starting on 1 October - a "turbulent"
economy would cut revenues, the CBO warned.

The CBO estimate for 2009 does not include the possible costs of rescuing
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
the two stricken giant mortgage firms, which was announced on Sunday.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

[Unlike the "Times" estimate which includes the potential cost
of bail outs ]


<quote>

http://news.bbc.co.uk/1/hi/business/7607872.stm



"The figures" quoted are forecasts if you notice. And so can
be selected according to the political prejudices of the newspaper
concerned.

The Times is owned by News Corporation i.e Rupert Murdoch and having squeezed
just about all he can out of New Labour, he's now decided to stab them in the back
and cosy up to Cameron and the New Spivs instead.

HTH


michael adams










.

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