Ken Livingstone says Labour (and Tory Governments) have long been borrowing too much

www.telegraph.co.uk/news/politics/labour/10451851/Labour-are-cowards-for-racking-up-billions-in-debt-says-Ken-Livingstone.html

The Daily Telegraph has the story, check out the link above.

His analysis of what has happened is frankly pretty much spot on; we have been living on too much borrowed money for far too many years so when the recession hit we were in a poor condition and unable to ride it out without massive cuts in public expenditure.

But of course the present Government is a coalition and one of the partners in that government seems to one that borrowed too much prior to Labour following suit. It wasn’t the Lib Dems so self-righteous Tories must have been borrowing too much as well!