Tuesday, November 03, 2009

Borrowing Brown's Bottom Of League

Borrowing Brown and Dozy Darling have sunk to the bottom of the charts, with the worst government deficit in the developed world. Another day older and deeper in debt. A damning indictment of a decade of economic failure.

A picture can paint a thousand words but so too a table. The excellent Burning Our Money has dug out an eye-watering chart published by the OECD, showing an estimate of the fiscal deficit members will rack up this year (as a percentage of GDP).

Sure as eggs is eggs, the UK is bottom of the league when it comes to government debt.

The next time Brown's BBC or a deluded prime minister tries it on with the discredited spin that the country is just a helpless victim of a "global downturn", "best placed to weather the economic storm", refer all inquiries to the OECD.

As BOM points out: "The reality is that we are worse placed than anyone else - and that includes basket cases like Ireland and Iceland."

Why is Norway top of the charts? Probably something to do with squirrelling away spare cash for a rainy day in a sovereign wealth fund instead of selling off gold reserves for a pittance.

Eye-watering public debt and a dire economy disappearing down a black hole. The Deluded One is taking the country down the road to rack and ruin. As the Orange Party has wearily said before it's enough to bring tears to your eye - and make your blood boil.

Top picture: jkingone

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