Saturday, 13 November 2010

Our National Debt

The Taxpayer's Alliance has recently issued a statement which details that our National Debt is £4.8 trillion which is so huge that we cannot contemplate the consequences. We all knew that we were in trouble but to THIS extent?

Recently I surmised that Ireland may be close to bankruptcy and I suggested that we, as a country, also had problems but I never thought that we were so close to ruin. This is really serious folks. If this continues we will be close to bartar!

What I find really hard to get my head around is what our Political Class were doing to run up such a debt. I mean we had a Prime Minister who had previously been Chancellor of the Exchequer. In one remarkable outburst in the Commons he claimed to have saved the rest of the world but who in office was squandering taxpayer's money to such an extent that he has apparently ruined the economy.

In doing so he, of course, sold off gold reserves at rock bottom prices and raided the pension pot. He then blamed the bankers, who he could have regulated, for the problems facing the country. During his watch the country's MPs carried out their own raid on the public purse and government officials throughout the land awarded themselves unbelievable pension pots and salary increases.

It still continues unabated because nobody in public life can resist the temptation to raid the public purse. They are all bloating themselves at our expense. Nothing changes apart from our contribution increases annually...witness yesterday's gas prices rise... and nobody bats an eyelid.

Sorry folks but trillions in debt and socialism still rampant. I have yet to hear one word of contrition from the previous government. They just ignore the consequences of what they did. To hear them you would never realise that they presided over the worst financial diaster that the country has ever faced. How can any group of people be quite so arrogant? It beggar's belief!

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