Economic problems 'worse than thought', says Cameron

[jujuman13]

Link
BBC News - Economic problems 'worse than thought', says Cameron

Quote(David Cameron will say Britain's economic problems are "even worse than we thought" as he sets out why he believes "painful" cuts are necessary.

In a speech he will say how the £156bn deficit is tackled will affect "our economy, our society - indeed our whole way of life".

The economy will dominate political debate ahead of the Budget on 22 June. )

It was ever thus after a Labor or NU-Labor administration.
They spend money as though there is no tomorrow, borrowing heavily just before Elections so that they can then bribe the electorate
It would be far better for Labor to have explained where all the money was going to come from, but no, all they did was promise more benefits from a Government with an empty purse.
It is to be hoped that this Coalition Government will rid GB of all the unelected Quango's that drain the country and do little to nothing except for those highly paid Czar's paid to run them.

 

[Arch Enemy]

I must admit that I clicked on this link because I thought it would be about James Cameron.

De-interested.

 

[kaya'08]

I must admit that I clicked on this link because I thought it would be about James Cameron.

De-interested.

You have officially made my day.

 

[Lord Tammerlain]

The UK is up ____ creek without a paddle.

It is at least as badly off as Spain and the other Pigs in reality. It had a large trade deficit, and government deficit before this recession, and now it has a very large governmental deficit, combined with domestic banks loaded with bad debt.

Realistically the UK is going to see a 15-20% reduction in Standards of Living (excluding technology gains) when this thing is over. It will most likely see a 15% reduction in military spending, if not more as the military is the one government program that will not directly effect a large number of voters and is the easiest to cut.