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There are some lessons for individuals and for government here, and I guess it starts at the old fashioned mantra - live within your means. The government has borrowed recklessly, so have many individuals. The government has spent money on things it could have managed without. so have individuals.
The main difference is, those individuals will have to sort out their problems. Where as the debt the government is in, you and I will have to pay, penny by painful penny, for generations.
On large scale and on small they are spending money on stuff we could do without. Stuff we HAVE to do without, because we cant afford it.
I now pay massively over half of all I earn back to the government in taxes, direct and indirect. That is too much! And to add to all this, I dont hear a single politician of any political colour saying anything that makes me believe that they understand economics enough to fix this.
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Gibside Associates
A Different Approach
www.gibside.co.uk
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