Friday, January 03, 2014

Quote of the day 3rd January 2014

“A small debt produces a debtor; a large one, an enemy.”

(Publilius Syrus)


Jim said...


The UK's national debt is currently £1,256,261,000,000

Thats huge, that would make us like even more of an enemy to some people than Ming the Merciless was to flash gordon, or even worse than Darth Siddius in the eyes of Yoda.

Jim said...

in the short time since i wrote the above we now owe another million, sorry scratch that two million quid on top. Its just rather silly now isn't it.

Jim said...

The above figure however, is a little false.

You see it only takes into account the amount the UK government owes to creditors, it makes no account of the huge amount the UK goverment still owe to former public sector workers in the form of pensions and liabilitys, also to the rest of us in the form of old age pensions (but then they should not need that, as there is a fund we have been paying into for years called national insurance which is ringfenced for this purpose) - allegedly.

Chris Whiteside said...

And that's exactly the point.

The present government is trying to reduce the terrifying and rapidly growing burden of debt which they inherited in 2010, and indeed and has significantly cut the deficit, but it is still much too large - dangerously large.

It is essential for Britain's long-term sustainability that the deficit is cut further, and if we had a sane and responsible opposition they would be criticising us for not cutting enough instead of the reverse.

There will be a few more "Quotes of the day" on the subject of debt this week.

Jim said...

Its pretty simple to me really how to do it. if you dont spend it you dont need it, and there is the answer to it, I have been trying to drill this message to government for a couple of years now, sadly it seems to fall on deaf ears.


Look if, you come to power and the economy is in such a dire state, and the deficit is huge, then it should have been stopped in 2010. simple - how much money have we got, ok. how much shall we spend, oh but that is more than we have! looks like we will have to prioritise our spending then. so we only spend that which we have.

that's right, there is no need to raise more in tax and hope the economy will grow if you just don't spend it in the first place.

ce n'est pas sorcier.