The National Debt – Something to be concerned about?

With all the massive amounts of spending/borrowing by our Conservative government, which has been forced to adopt Keynesian economics because of the pandemic, what are we going to do about paying it all back?

Clearly the right/centre right and even some of the left of UK politics will favour more austerity and lower taxes whereas the left generally will favour less or no austerity and higher taxes. We think like that because that’s what we’ve been told our options are. But are these black and white options really the only way forward to address the situation? Yes, I realise that some will say just kick the can down the road and let future generations pay it off; the ultimate act of selfishness you could call it? Now don’t shout at me, just have a look at the link below to a video on the BBC website entitled ‘Why we need to debunk the deficit myth’. I know, I know, it’s produced in US terms but the concept is pretty much the same in any sovereign country:-

www.bbc.com/reel/video/p08jbbry/why-we-need-to-debunk-the-deficit-myth-?ocid=ww.social.link.twitter

Have your views changed? Are you better informed? Or are you stubbornly staying in your tribal left or right tent unwilling to see a different perspective?

My thanks to Stephen Hesketh for the lead to this posting

Guest Posting – Corbynomics and local political affiliations – Malcolm Gore writes

Maghull resident Malcolm Gore wrote this letter to the Champion newspaper

Dear Editor,
I found Bill Esterson’s pledge of 100% support for Jeremy Corbyn in last week’s Champion rather alarming.

Corbyn’s extremist views have been well documented recently in the press, his opposition to the monarchy, his willingness to share a platform with terrorist friends, his desire to axe our nuclear capability and probably the army as well, his stance on immigration and his ideas that the solution to any economic problems is to print money, which any A level economics student will tell you, leads to hyper-inflation, are disturbing. Even worse is the desire of his Shadow Chancellor to return to those “halcyon days ” of the 1970’s. Does this mean Bill now shares these views and would vote for them?

Like myself, Mr Esterson has publicly criticised our local councillors, who once elected, toe the party line to the determent of their own electorate, yet when he finds himself in similar circumstances he can’t wait to jump into the “party tent”. I feel sure the majority of hard working, long standing, Labour supporters in Sefton East, do not share these views. Surely it would do his credibility far more good ,to resign the party whip and fight for the mandate on which he was elected.

I fear he has spent too much time in Andy Burnham’s company, borrowing someone else’s “flip- flops” is unhealthy.

Malcolm Gore
Maghull Resident

It was not published in the following edition of 23rd September