The true cost of Brown’s debt binge

When Alistair Daring admitted last week that there would indeed be job losses arising from the proposed National Insurance hike, it would have struck Gordon Brown and Ed Balls like root canal surgery. This blows wide open the main part of Brown’s election deceit: asking the public to look at the advantages of the borrowing, and not contemplate the flip side to the debt coin. Not to ask where the repayments will come from, or the impact of those repayments on the jobs of the future. No wonder Darling is today being made to claim the opposite.

The grim truth is that every job “protected” now, due to debt, will be more than balanced out by money taken away from the economy in the form of the interest needed to serve that debt. All told, Brown’s “stimulus” will destroy more jobs than it creates. No one has much looked into this yet.