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  1. The Mythical Gordon Brown Big Debt

    To clear up the mythical Gordon Brown big debt:

    Below: Note that Brown in 2008 was spending about the same as Major in 1992 and far less than Thatcher in 1983.

    Below: It's not the level of spending that's important it is the deficit - the difference between spending and revenue. As long as the chancellor raises enough in taxes to cover his spending over the cycle there's not a problem. Also the deficit gives you the full ...

    Updated 06-29-2011 at 08:43 PM by Waterways

    Tags: debt, deficit Add / Edit Tags