WITH unemployment remaining high in the US and President Obama’s approval rating at an all-time low, as his $800bn “stimulus” plan continues to flop, the obvious is abundantly clear. A country cannot borrow its way out of a debt crisis.
In Britain, this month’s spending review will spell out precisely where the public spending axe will fall. I do not imagine the cuts will be popular, but I believe they are necessary and in our national interest.
Clearly, the emergency measures already taken by Chancellor George Osborne have been effective and Britain will not now face the “double-dip”
recession that some on the left actually hoped for – if only to blame the “Con-Dems”.
Any suggestions that cuts over a longer period are the answer are ridiculous in view of the fact our interest payments alone are already something in the region of £40bn a year as a direct result of loan agreements signed by the previous Labour government.
This cannot be allowed to rise further; it is already a burden on future generations.
Deep cuts in public spending and long-overdue reforms in our public services are what will put us back on the road to prosperity.
Des More, Darlington.
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