Must say I appreciate my pensioner benefits a lot more after reading this page, I didn’t realise I was so well off!

Finally! Exposed! The Deficit Myth! So, David Cameron When Are You Going to Apologise
http://www.huffingtonpost.co.uk/rame…b_2007552.html

“A lie gets halfway around the world before the truth has a chance to get its pants on”
- Winston Churchill

As a Conservative I have no pleasure in exposing David Cameron’s deficit claims. However, as long as the party continues to talk down the economy via the blame game, confidence will not be given an opportunity to return. For it is an undeniable and inescapable economic fact: without confidence and certainty there can be no real growth.

Below are the three deficit claims – the mess. The evidence comes from the IMF, OECD, OBR, HM Treasury, ONS and even George Osborne. The claims put into context are:

CLAIM 1
The last government left the biggest debt in the developed world.

After continuously stating the UK had the biggest debt in the world George Osborne admits to the Treasury Select Committee that he did not know the UK had the lowest debt in the G7? Watch: Also, confirmed by the OECD Those who use cash terms (instead of percentages) do so to scare, mislead and give half the story.

Its common sense, in cash terms a millionaire’s debt would be greater than most people. Therefore, the UK would have a higher debt and deficit than most countries because, we are the sixth largest economy. Hence, its laughable to compare UK’s debt and deficit with Tuvalu’s who only have a GDP/Income of £24 million whilst, the UK’s income is £1.7 Trillion.

Finally, Labour in 1997 inherited a debt of 42% of GDP. By the start of the global banking crises 2008 the debt had fallen to 35% – a near 22% reduction page 6 ONS Surprisingly, a debt of 42% was not seen as a major problem and yet at 35% the sky was falling down?

CLAIM 2
Labour created the biggest deficit in the developed world by overspending.

Firstly, the much banded about 2010 deficit of over 11% is false. This is the PSNB (total borrowings) and not the actual budget deficit which was -7.7% – OBR Economic and Fiscal Outlook March 2012 page 19 table 1.2

Secondly, in 1997 Labour inherited a deficit of 3.9% of GDP (not a balanced budget ) and by 2008 it had fallen to 2.1% – a reduction of a near 50% – Impressive! Hence, it’s implausible and ludicrous to claim there was overspending. The deficit was then exacerbated by the global banking crises after 2008. See HM Treasury. Note, the 1994 deficit of near 8% haaaaaah!

Thirdly, the IMF have also concluded the same. They reveal the UK experienced an increase in the deficit as result of a large loss in output/GDP caused by the global banking crisis and not even as result of the bank bailouts, fiscal stimulus and bringing forward of capital spending. It’s basic economics: when output falls the deficit increases.

Finally, the large loss in output occurred because the UK like the US have the biggest financial centres and as this was a global banking crises we suffered the most. Hence, the UK had the 2nd highest deficit in the G7 (Not The World) after the US and not as a result of overspending prior to and after 2008- as the IMF concur.

CLAIM 3
Our borrowing costs are low because the markets have confidence in George Osborne’s austerity plan and without it the UK will end up like Greece.

Yes, the markets have confidence in our austerity plan and that’s why PIMCO the worlds largest bond holder have been warning against buying UK debt.

The real reason why our borrowing costs have fallen and remained low since 2008 is because, savings have increased. As a result, the demand and price for bonds have increased and as there is inverse relationship between the price of bonds and its yield (interest rate) the rates have fallen. Also, the markets expect the economy to remain stagnate. Which means the price for bonds will remain high and hence, our borrowing costs will also remain low.

Secondly, the UK is considered a safe heaven because, investors are reassured the Bank of England will buy up bonds in an event of any sell off – which increases the price of bonds and reduces the effective rate. Note, how rates fell across the EU recently when the ECB announced its bond buying program. Thirdly, because, we are not in the Euro we can devalue our currency to increase exports. Moreover, UK bonds are attractive because, we haven’t defaulted on its debt for over 300 years.

David Cameron would like people to believe the markets lend in the same way as retail banks lend to you and I.

Overall, when the facts and figures are put into context these juvenile deficit narratives and sound bites (“mere words and no evidence”) simply fail to stand up to the actual facts. The deficit myth is the grosses lie ever enforced upon the people and it has been sold by exploiting people’s economic illiteracy.

So, David Cameron when are you going to apologise?

Cameron is playing the blame game to depress confidence and growth to justify austerity. Secondly, to use austerity as justification for a smaller state to gain lower taxes. Thirdly, to paint Labour as a party that can not be trusted with the country’s finances again. Therefore, we Conservatives will win a second term because, people vote out of fear. The latter strategy worked the last time in office (18 years) and will work again because, in the end, elections are won and lost on economic credibility. Hence, as people believe Labour created the mess they won’t be trusted again.

Finally, as the truth is the greatest enemy of the a lie I urge you to share this on Facebook, Twitter, blogs, text and email etc etc. So the truth can be discovered by all. Finally, have no doubt, people have been mislead by the use of the following strategy:

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it” Joseph Goebbels

THE NAMES AND STORIES THAT DAVID CAMERON AND IAIN DUNCAN SMITH DO NOT WANT YOU READING ABOUT…
LINKS ARE AVAILABLE FOR EACH NAME AND STORY ON THIS LIST.

Richard Sanderson, 44, drew up meticulous suicide plans after learning he could no longer afford the flat he shared with his wife and nine-year-old son after being told their housing benefit would be cut by £30 a month.Richard stabbed himself twice through the heart.

Paul Reekie,48, left no suicide note but a letter informing him that his welfare benefits were to be stopped were found next to his body.

Paul Willcoxson, 33,Who had mental health problems was found hanging in Pignals Enclosure, near Hollands Wood campsite.A suicide letter and next of kin note were found in which he expressed concerns about the cuts to his benefits.

Leanne Chambers,30, Leanne Chambers body was found in the river weir five months after she walked out of her home she had battled depression for a number of years and had taken a turn for the worse after receiving a letter telling her she had to be assessed by a doctor she did not know, to see if she was fit to return to work.

Christelle Pardo,32 and Kayjah Pardo 6 months, After having all her income cut off and her housing benefit withdrawn, and with a baby to care for, she had been left destitute. When she begged for help the only response from the DWP was that she didn’t qualify under the rules,So she killed herself and her young child.

Elaine Christian, 57, was found in a drain after walking out of her home. A post mortem revealed she had died from drowning, despite having more than ten self-inflicted cuts on her wrists.The inquest in Hull was told Mrs Christian had been deeply worried about a meeting she was due to have to discuss her entitlement to disability benefits.

David Groves, 56, died of a massive heart #attack the night before his medical assessment as he sat at his computer and scoured the Internet for ways to raise cash in case he lost his entitlement.

Mark and Helen Mullins were found lying side by side in their home after committing suicide together.They had been left destitute after Helen had her claim for benefit turned down,they had no food, no heating and no electric.

Linda Knott, 46, had worked as a supervisor at the Brierley Community Centre in Little Hulton for 16 years before it fell victim to spending cuts.The news tipped her into depression and she had already taken an overdose of pills eight days before she was found hanging at her home in Walkden.

Jack Shemtob, 53 jumped to his death from his office building after human resources told him he was losing his job as part of the governments cost cutting programme.

Stephen Hill,53, Died of a heart attack a month after having his benefits were stopped, after being told his heart problem were not serious enough to stop him working.

Craig Monk, 43,was found hanging in his home, he had a a partial amputation of his leg and was described by his family as “vulnerable” he became depressed that his benefits had been cut.

Martin Rust, 36,a schizophrenic had his benefits cut and was ordered back to work.He left a note saying: “To those I love, I’m sorry. Goodbye.” Coroner William Armstrong said the DWP’s decision “caused distress and may well have had an adverse effect”, recording that Mr Rust had committed suicide while suffering from a treatment-resistant mental illness.

Paul Turner, 52 died from ischaemic heart disease – caused, his family claim, by the stress of losing his benefits.He was told his heart problems were not serious enough for him not to work,he died 4 weeks later.

Mark Scott, 46, who suffered from anxiety, epilepsy was left penniless when he was declared fit for work and his benefits were stopped.He died six weeks later in the Southport flat where he lived alone.

Colin Traynor, who was a life long epileptic. He was assessed as fit for work, he appealed, but his parents say he became depressed and lost weight , he died less than four months later,the day after his death his parents found out he had won that appeal.