Tuesday, June 26, 2012

Time To Double Down Then

We must cut spending in order to cut borrowing in order to cut borrowing costs but somehow destroying the economy is forcing us to borrow more. It's so confusing! How could this be! How could a posh boy history major not have any clue about economics? This is a tremendous surprise.

Britain's public finances sank deeper into the red last month as weaker tax receipts from the recession-hit economy depleted the Treasury's coffers.

Figures from the Office for National Statistics showed that net borrowing excluding financial help to Britain's banks stood at almost £18bn in May – up from just over £15bn in the same month in 2011.

Horrible stupid people.