deficit cut by third... is this wrong(bull)?

deficit and debt are 2 different things, they will talk up the best figures and play down the worst

Neither has been cut in 2008 labour spent 582bn and the debt was 535bn.  In 2013 the tories spent 673bn and the deficit was 1186bn.  The deficit is widening.  France can borrow for ten years at 1.5%, we have to pay 2.5%.  If the Tories get back in power the IMF will be the only ones who lend us money in 5 years.

So David left his wife down the pub...the lame pun back fired when the tv showed a close up of his wife who was less than amused.

Not to be out done the joker followed the script and got a chuckle when he said a vote for ukip would be a wasted vote (and only favour labour). "It's like going to bed with Nigel Farage and waking up with Ed Miliband."

His rally cry to stick with the tories was not too dissimilar when he pleaded with the people of Scotland to remain in the union.

He has now pledged that minimum wage earners would pay no income tax. I read about ukip coming up with something similar at the weekend?

Imagine the outcry when companies add 1p to the minimum wage to thwart those already earning a pittance.

Deficit is the difference between current expenditure and income, the national debt is the amount we owe in total, currently over a trillion pounds.
The Conservatives claim to have reduced the deficit by a third.

Dave left his daughter down the pub a while ago. It was widely reported at the time.

dave1357 01 Oct 14 20:05 Joined: 05 Sep 10 | Topic/replies: 2,907 | Blogger: dave1357's blog
Neither has been cut in 2008 labour spent 582bn and the debt was 535bn.  In 2013 the tories spent 673bn and the deficit was 1186bn.  The deficit is widening.  France can borrow for ten years at 1.5%, we have to pay 2.5%.  If the Tories get back in power the IMF will be the only ones who lend us money in 5 years.
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The deficit was not 1186bn.  The deficit has reduced since the tories got into power.  Why quote 2008? 2 yearsbefore they came into power?

And I though France's credit rating was worse than ours

*the debt is 1186bn (obv typo)

Not sure why so many people, including dave1357, struggle to understand the difference between deficit and debt.  Foinavon explains it very well in a sentence.  The fact the deficit is still so high is highly embarrassing for the Government but is barely mentioned as Labour daren't talk about it - created under their watch, no plan to tackle it, talking it up begs the question 'what would you cut then'.

I think I read that we spent 48bn a year servicing the debt which is frightening.

Labour forgot to mention how they would deal with anything important, immigration and the deficit were not even mentioned at their conference. all very strange.

the uk financial picture is just horrific. The deficit has reduced but is still adding a huge amount to the national debt.

In fairness to the coalition the mess was created by labour in the boom years and then around the crash, the deficit was circa 125 billion when the coalition came to power. Any attempt to reduce it was denounced by labour and watered down by the lib dems. Anyone remember the labour mantra of cutting too far and too fast. Back then labour had plenty to say about the deficit unfortunately for them pretty much every prediction they made has turned out to be wrong.

True, but so did Osborne's.  His original plan was to have wiped out the deficit by next year.

Oct 1, 2014 -- 3:06PM, berto77 wrote:

Not sure why so many people, including dave1357, struggle to understand the difference between deficit and debt.  Foinavon explains it very well in a sentence.  The fact the deficit is still so high is highly embarrassing for the Government but is barely mentioned as Labour daren't talk about it - created under their watch, no plan to tackle it, talking it up begs the question 'what would you cut then'.I think I read that we spent 48bn a year servicing the debt which is frightening.

It was a ****g typo you prick

Oct 1, 2014 -- 2:05PM, dave1357 wrote:

Neither has been cut in 2008 labour spent 582bn and the debt was 535bn.

The deficit is not the difference between annual spending and accumulated debt as you suggest in your post of 8.05.

The economy was recovering until Gidiot Oafborne piped up about how he was going to crush public spending.  The private sector slashed investment.  Manufacturing construction and production are all still below pre-recession levels of output.  Only services have increased.  If Oafborne was a labour chancellor the press would be howling at his incompetence.

is dave facts in disguise ?

Oct 1, 2014 -- 4:05PM, berto77 wrote:

The deficit is not the difference between annual spending and accumulated debt as you suggest in your post of 8.05.

What? I suggested nothing.  I just highlighted that the Tories haven't substantially cut back public spending as they claim.  They should be raising taxes to pay for their spending and perhaps they would be able to borrow at the same interest rates as France.

Report• Quote • Block User dave1357 • October 1, 2014
in 2008 labour spent 582bn and the debt was 535bn.  In 2013 the tories spent 673bn and the deficit was 1186bn.  The deficit is widening.

Borrowing £125 billion a year to pump into a economy may well present an  image of recovery but it isn't one I susbscribe to. Nor incidentally do I subscribe to the notion that the economy is growing now if it is doing so in large part because we are still borrowing and spending nearly £100 billion a year more than we have coming in.

For anybody who wants a simple and I think quite useful explanation for the difference between the two think of a bath of water. The water that is in the bath is the debt. The water you add to it through the tap is the deficit. Slow down the amount of water you add as we are currently doin in terms of our deficit and it will still flood your bathroom.

Ergo. We're fuccked.

You are assuming once again that my last comment is directly related to the first.  The last comment related to recent borrowing figures that have been increasing.

In the old days I would instantly challenge someone to a duel, if they dared to suggest that I didn't know the difference between debt and deficit.

Had the nanny state scottish government not banned duelling in 2006