US Senate and House agree budget deal
The United States congress has now approved the deal mentioned yesterday to end the shutdown - at least for now. Essentially this defers the problem for three months.
Just as, while I support the job George Osborne is doing, I would like to see Britain eliminate the deficit faster to reduce the crippling debt burden we are leaving the next generation, I think America needs to take action to avoid the same problem.
I don't think the tea party tactics were right - it can never be a means of adopting responsible finance to default on your debts - but I do think the republicans were right to want to cut the US deficit.
Sadly, as John McCain remarked on the radio this morning, the whole affair has damaged all the main players and reduced public trust in US politicians further.
The most ironic thing broadcast this morning was a US army veteran, justifiably furious at veterans having their payments suspended during the shutdown, who said that people like him were extremely upset with all the national politicians and didn't want to see any of them, Democrat or Republican, re-elected.
The reason this statement was so ironic was that this exactly the sentiment, about the previous generation of US politicians, which both motivated most of the Tea Party candidates to stand and enabled so many of them to be elected. And hence, although I do not share the view that the whole mess is entirely the Tea Party's fault, helped create the very situation he was so angry about.
Just as, while I support the job George Osborne is doing, I would like to see Britain eliminate the deficit faster to reduce the crippling debt burden we are leaving the next generation, I think America needs to take action to avoid the same problem.
I don't think the tea party tactics were right - it can never be a means of adopting responsible finance to default on your debts - but I do think the republicans were right to want to cut the US deficit.
Sadly, as John McCain remarked on the radio this morning, the whole affair has damaged all the main players and reduced public trust in US politicians further.
The most ironic thing broadcast this morning was a US army veteran, justifiably furious at veterans having their payments suspended during the shutdown, who said that people like him were extremely upset with all the national politicians and didn't want to see any of them, Democrat or Republican, re-elected.
The reason this statement was so ironic was that this exactly the sentiment, about the previous generation of US politicians, which both motivated most of the Tea Party candidates to stand and enabled so many of them to be elected. And hence, although I do not share the view that the whole mess is entirely the Tea Party's fault, helped create the very situation he was so angry about.
Comments
This simple fact applies to Robinson Crusoe on his island
it applies to a family,
and it applies to a nation with a population the same size as china.
Now Crusoe would go bust first, because he has least flexibility, the family next, as they have limited flexibility, and the govt of china next because they have most flexibility.
You see the point is that regardless of flexibility to prospone in the inevitable, the principle is the same, you cant spend or consume, more than you earn.
Thanks ed
But even though this was probably part of the truth, does anyone in their right mind believe that at least part of this increase isn't due to Ed Miliband's speech since, at the very least, it is likely that British Gas will have chosen to erred on the side of a larger increase so as to get the prices up before Miliband can implement his price freeze?