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Wonder what the unions and the ministry-of-getting-very-upset-about-things would make of that...
Actually I agree, although I think the republicans are abusing the mechanism, I think it's good they have a mechanism to stop spending when debts are growing. Germany has a different mechanism; the constitution allows government to take on debt for emergencies or infrastructural investment where there's a good business plan, and decisions to take on debt can be challenged in the courts. The US approach seems a bit drastic, but I think a strict mechanism to stop the government continually spending more than they have in revenues is good; perhaps a system whereby the first unpaid salaries are those of ministers, then MPs, before hitting public services would be of benefit. Unfortunately I have no reason to trust politicians to do anything within the budget they have, and so if we need to protect ourselves against future debt by treating them like 7 year olds who've blown all their pocket money then so be it.
And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014
Wasn't it only last year they did this, or something similar, because they'd hit a limit on spending which required both sides to allow to be increased?
Pattie Brassard did say Obama was going to shut down Congress and go and hide in an underground bunker with his reptilian forefathers.
Mind you she also said there was going to be a mag 15 earthquake in Seattle in August and on September 26th we were going to be plunged into 3 days of darkness and that our dna was going to change and we were going to become enlightened, so I wouldn't necessarily take all she says on face value.
Wasn't it only last year they did this, or something similar, because they'd hit a limit on spending which required both sides to allow to be increased?
I think that was the fiscal cliff thing which is starting to do the rounds again...
I just can't imagine telling all our non-essential civil service permies to go home without pay - they'd probably riot...
"Is someone you don't like allowed to say something you don't like? If that is the case then we have free speech."- Elon Musk
I believe it was Jeremy Clarkson who said parliament should be disbanded and he would run the country, in his cardigan, by "popping in on a tuesday afternoon".
Wasn't it only last year they did this, or something similar, because they'd hit a limit on spending which required both sides to allow to be increased?
That was the debt ceiling, which is the one that's up in a couple of weeks. This is the budget.
It would be good to have some kind of restrictions on future UK governments that they at least have to make the books balance. Perhaps it's another area where the BoE need to get involved to ensure the long term future of the economy isn't sabotaged by politicians looking to buy votes: I.e. the BoE dictates the total budget, and the politicians get to decide where to spend it, rather than the current system where a party with a majority can flip everything up for decades and nobody can stop them.
That was the debt ceiling, which is the one that's up in a couple of weeks. This is the budget.
It would be good to have some kind of restrictions on future UK governments that they at least have to make the books balance. Perhaps it's another area where the BoE need to get involved to ensure the long term future of the economy isn't sabotaged by politicians looking to buy votes: I.e. the BoE dictates the total budget, and the politicians get to decide where to spend it, rather than the current system where a party with a majority can flip everything up for decades and nobody can stop them.
WHS and when the money's up, it's up. I'd add that the BoE should never hand government more than 95% of the revenues to ensure a reserve is built up, possibly in a Norwegian style sovereign wealth fund. I think the time has come to seperate the budgetters from the spenders.
And what exactly is wrong with an "ad hominem" argument? Dodgy Agent, 16-5-2014
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