Nancy Pelosi, Communist?

[joeydb]

Originally Posted by Riot

So you like what the new conservative leadership of England just did? It is virtually exactly what the current ultra-conservative GOP is asking for in the US.

If so, how do you reconcile that when England did the same previously, in the early part of the last century, it was a massive economic failure?

http://www.latimes.com/news/nationwo...,1227957.story Britain unveils radical austerity plan

http://www.tampabay.com/news/world/c...the-us/1129353

http://www.huffingtonpost.com/johann..._b_770748.html

They had to cut expenses. HAD TO. Soon, when China refuses to loan us another nickel, we will do the same.

[Riot]

Originally Posted by joeydb

They had to cut expenses. HAD TO.

Yes. I'm not saying it's easy or black and white. But history - and many economists - predicts their economy will completely crash now. We'll see (the last link above talks about the negatives). Of course, the good thing is that they will be in a far more stable financial position in the next 5 years. But let's see what is also being predicted now from this (the second link, above)

• About 490,000 public sector jobs likely to be lost

A half-milllion unemployed thrust into an economy that's already fragile.

• Over $11 billion in additional welfare budget cuts

So, will these guys just starve on the streets? It's not like they can go to work, there are no jobs

• Police funding cut by 4% a year

Hopefully they can continue to fight crime.

• Retirement age to rise from 65 to 66 by 2020

Keep working another year in that economy with no jobs.

• National Health Service budget in England to rise every year until 2015

And healthcare costs skyrockets.