Paxboy
Look at poor Obama, anything he tried to do has been trashed by vested interests. He will get re-elected by a reduced majority but there is no chance that he can fulfil the promise. Now, I am not trying to make a JetBlast style political row, just saying that £50 Bn thrown the same was as the last will have no effect.
A few thoughts.
The 'promise' of Obama was 'We Want Change' !! The most vaccuous election 'promise' ever devised, and how people fell for it, one will never know. When I run for president, I will campaign under a banner saying 'We Will Do Something'...
Brown did not throw £50 billion at anything - he threw £250 billion at something. Which is why some helpful wag left a note on the desk of the Treasury, when Labour left office, saying: 'there is no money left'.
You are right, if we make the same mistakes as Brown, then the new money will again dissapear into the Aether the same as the old. But Brown's folly was to use borrowing for daily expenditure, which never works. Borrowing has to be for special infrastructure - where is does work. Like Silver-Foster.
Think about it. If a factory borows to pay the wages, it is simply delaying the day it will go bust. But if a factory borrows to invest in new machinery, to make the precise knurled flange brackets that everyone needs, they are on the road to fame and fortune.
That, was Brown's folly, and the folly of every Labour government.
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