October the 20th

What everyone seems to be forgetting (or perhaps just trying to ignore like an extremely large credit card bill shoved into the back of a sock drawer) is that the Government Spending Review is published on October the 20th.  This is when the Austerity starts in ernest.  This is when the real pain of Labours spending madness will become evident.

And time and again I hear people saying that we shouldn't be cutting spending and paying down debt, because we risk a double dip recession.  What they fail to understand is that if we DON'T reduce the deficit we risk something far worse...... a sovereign debt crisis.

You see, the only thing keeping this country going at the moment is foreign governments, banks etc buying our government debt.  The more debt this country has, the more risky our debt seems and thus the more expensive it is to service. 

Labour were like a teenager with a credit card.  They maxed it out, and took out another credit card to continue the good times.  They maxed that one out too.  Now the Lib/Con coalition (and no I didn't vote for them) are like the concerned mother who uncovers the teenagers foolishness.  She has to take control of all this manic spending to get the debt down, or young Johnny is going to be made bankrupt.

If you want to know what happens when a country goes bankrupt and its currency collapses, look at Argentina, look at Greece.

So it's quite simple.

Do you want austerity measures and cuts in public services and a possible double dip recession?
Or do you want a currency collapse, hyperinflation and a depression which wipes out the middle class.

I support none of the political parties.  I will remember however who spent all the money in the coffers and more besides.