Lib Lab Con Economics: same recipes and same consequences
Despite all assurances about the annual deficit and despite all budget cuts, the British deficit has been steadily going up and there is nothing that Conservatives, Labour and Liberal Democrats can do or will do to reverse the trend that has just led to the downgrade of the British credit rating. Expect more of the same in the near future.
The recent announcement that the USA are cutting down their operations in the Persian Gulf because of… lack of money... does not come as a surprise and, given present policies, Britain is facing similar situations. The American State Department’s expressions of concern about British defence cuts are absolutely meaningless because America itself has been forced to implement cuts.
The present status quo is absolutely unsustainable. Political deals can be reached but they are merely ‘delaying tactics’.