Good news from the chancellor

You have to agree that George Osborne seemed to be happy with his autumn statement yesterday.

But I am not sure if everyone understands what he means when he says that the deficit is reducing.

If you were to tell me your borrowing was reducing, most people would assume that you have paid it back and you don’t owe as much as you used to. The Chancellor at the dispatch box

When Chancellors tell us the deficit is reducing what they mean is that they are borrowing less this year than either they had budgetted or less than last year or more often less than the last government.

Of course borrowing less than you expected means you are still borrowing and that you owe more this year than you did last year.

He is forecasting actually paying some borrowing back in a few years time – 2018-19.

But surely he said he was repaying some borrowing:

And this morning I announced we will repay the entire outstanding national debt incurred to fight the First World War.

How can he say this?  Table A of the official statement does show gilt repayments of £64.5billion – but new gilts issued will be £125.9billion.

So all he really means is that he is refinancing his existing debt.

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Dear America, Government is NOT the Answer to Every. Fucking. Thing.

I wouldn’t put it quite like this, but the government does not have all the answers – or the world would be perfect already!

Cpl Kerkman Reference Guide


Carousing the news lately, I came to notice something that I have always noticed while reading the news, but this time it just irked me so much that I had to write about it. I’d taken a break from the news due to recent events in my life that are hard for me to explain at the moment, but as I returned, I noticed the same old trend of the corporate media turning the dialogue to what the Government can do for us! Top CEO’s tell Congress that what they gotta do is work together to create a solution to our economic woes. I don’t know about you, but the thought of some crooks at the top of some international corporations working together with our Congressmen and the White House sounds like a huge racket to me.

Oh wait, because it is.

The global corruption index is a huge…

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