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Posted on 08/11/2011 10:56:21 AM PDT by quesney
These events did not come out of the blue.
They all have the same root cause.
Debt.
I believe that events around the world completely vindicate the decisions of this Coalition Government from the day it took office to get ahead of the curve and deal with this country’s record deficit.
While other countries wrestled with paralysed political systems, our Coalition Government united behind the swift and decisive action of in-year cuts and the Emergency Budget.
While other countries struggle to command confidence in their fiscal forecasts, we have created an internationally admired and independent Office for Budget Responsibility.
These bold steps have made Britain that safe haven in the sovereign debt storm.
Our market interest rates have fallen, while other countries’ have soared.
And the very same rating agency that downgraded the United States has taken Britain off the negative watch that we inherited and reaffirmed our AAA status.
[...]
Ours is an absolutely unwavering commitment to fiscal responsibility and deficit reduction.
(Excerpt) Read more at hm-treasury.gov.uk ...
Has to be done though. If we dont cut back the public sector now we will only have to cut it back further down the road, when the cuts will have to be even heavier and the subsequent raging will be even worse.
:)
exactly
Despite royal rhetoric, there's not much else to keep them stable where they are.
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