Quote of the Day

“I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3% of GDP all sitting members of congress are ineligible for reelection.”
 
( Warren Buffett )

Comments

Jim said…
that would help, but still it gives them up to 5 years free reign. why not......

no taxes or spending without consent: no tax, charge or levy shall be imposed, nor any public spending authorised, nor any sum borrowed by any national or local government except with the express permission of the majority of the people, renewed annually on presentation of a properly authenticated budget which shall first have been approved by their respective legislatures;


You could argue that the public would increase spending by voting for it, but then it is the public who are liable for the debt anyway. So much better than me borrowing ten grand, then insisting that the occupants in the 20 houses up the road pay £500 quid each for their fair share.
Jim said…
no one should ever take that lightly either. Under the last govenment the addition to the national debt was 153.6 billion. At the end of 2012 it was 99.5 billion each year.

how much is that, well, in £20 notes fresh with bands in £1000 bundles, I could possibly fill a tesco carrier bag to make a milion pounds. But I would need to hire in a skip to throw into it 1000 of those bags, to make 1 billion. At the current rate I would need to get 100 skips to spend at the same rate as the government.

This is not a debt reduction government, they are just over taxing hoping things will get beter, well they wont, start cutting!!!!!


Jim said…
And I fell into my own trap. Was talking about deficit, not debt.

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