Comments on: GDP figures: It’s not just about growth per se but the type of growth

By: Newsbot9

Newsbot9 — Thu, 25 Oct 2012 15:46:00 +0000

In reply to Brian S.. Do try not to present contradictory views in the same post.

By: Newsbot9

Newsbot9 — Thu, 25 Oct 2012 15:45:00 +0000

In reply to LB. As usual, you are claiming that only shrinking the economy and only spending on corporate welfare is the answer. Gotta keep you and your buddies in luxury, screw the rest! You keep calling anyone who wants you to pay tax deluded!

By: Brian S.

Brian S. — Tue, 23 Oct 2012 16:57:00 +0000

This is left-wing blogging? “In light of this it is entirely possible the government will have to
find further cuts on top of the additional cuts already announced. This
risks pushing austerity toward the tipping point where it becomes self defeating, reducing economic output by more than the reduction in spending itself.”
Austerity by definition is already self-defeating, it’s reduction in government spending, that reduces the amount of money in the economy and hence GDP. It can never make the ecomomy grow, but it can reduce public services to the point of destruction.The government never has to ‘find further cuts’ to reduce the defecit. Lack of UK government spending is always a political decision, not one due to lack of ‘money’.
Your last paragraph is rubbish – it’s not a question of ‘vision, policies and conviction’ it’s down to who can spin the best narrative in the public arena. Agitprop. The Coalition has convinced you at least that defecits matter more than anything and Austerity is a Good Thing. Your job as left-wing bloggers is to convine the public of the opposite – get on with it.

By: LB

LB — Tue, 23 Oct 2012 10:46:00 +0000

The second question is therefore how we encourage a more sustainable type of growth

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You’re missing the basic point.

Can growth solve the government debt problem?

The answer is no. Debts of 7,000 bn on taxes of 570 bn can’t be solved by growth.

Next, what do you mean by growth?

You don’t mean growth in the economy. You really mean growth in taxes. More money taken from people is what you really mean. Why not be open and say you’re solution is to take more money from hard working people?

Ah yes, you wouldn’t be elected so you have to keep it a secret what you mean by growth, and what the debt is.

Now, 150 bn a year deficit. Lets say you get a million back to work. That ‘growth’ works if you are paying the million 150 bn / 1 million or 150,000 pounds a year. Now we know in a few cases you were, but they aren’t going to make that much of a difference.

So you’re deluded.