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Old 26th Mar 2014, 12:17
  #52 (permalink)  
The Old Fat One
 
Join Date: Jan 2008
Location: UK
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Interesting piece in the Times today...echoes what many leading economists have been saying for years. Basically, austerity has not even started yet. What limited cuts we have seen so far do not even begin to address the problem...a view I personally very much agree with.

Also in the same paper IFS are trying to turn the spotlight on the public sector pension black hole which they estimate as 1.7 trillion...ouch.

Basically we had 10 years of the Blair government running a ponzi scheme, but before we descend into politics, even the right wing acknowledge that trying to meet the public's expectation of what decent public services (including defence) even look like is now impossible.

So whatever your political bent, you can expect a decade of more of even greater austerity that you have seen so far...and even less focus on defence.

That's the reality of the situation and no amount of outrage in social media will make a blind bit of difference. It would take a proper full on old fashioned war to do that.
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