Originally Posted by TISS
The issue was the deficit was running at >10% of GDP, which is a course for bankruptcy in the long run.
typically when the deficit is less than inflation adjusted growth the rising payments on debt is more than offset by the rising tax base to cover it.
it is one school of thought. not every school of thought advocates it.
it is hard to suggest what could happened if a Keynesian model had been adopted. It may have worked, ut may not. it is all supposition.
it really is crass to suggest working people voting Tory are voting against their own best interests. you have no idea what is in the best interests of the 13.7m or so who voted Tory in this years election. People vote for a myriad of reasons and not everyone is obsessed with money in the way those on the left are.
They are not social democrats - Blair was a social democrat, so was Brown and Milliband. Corbyn and McDonnell are very much further left. McDonnell is on R4 quite a lot and you only have to listen to him to see he is not an advocate of social democracy.
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