not just in the US but it happens in the UK and other places too
Damn. Can’t believe New Labour is getting tarred with accepting soccer tickets, fancy clothes, and vacation packages from British Peer Lord Alli. Seems so unfair. Wish people would stop accusing the Labour government of being corrupt, when they are very obviously following the rules of accepting gifts and definitely not operating on any quid pro quo.
the new Labour government immediately found a £20 billion hole in the economy
New Labour has a set of accounting rules that count investment in capital as an expense and insists on running daily budget surpluses for their operating expenses.
Popping open your household account, making cartoonish bug-eyes, and announcing “We owe $200k on our 30 year mortgage but we only make $80k/year! We’re bankrupt for the next three years until we pay this house off!” This is New Labour accounting. It’s laughable and only ever used as an excuse not to spend any money.
On the flip side, this is the same party that insists on privatizing everything. From Thames Water to British Gas to UK Rail, every once-public service has to be turned over and rented back from the private sector. The Brits pass out these privatization contracts as sinecures, guaranteeing their financial friends huge piles of free no-risk revenues at the expense of the British taxpayer. And then they complain that the country has no money.
That New Labour slid directly into the driver’s seat the Tories left and gunned it isn’t something you can ignore, simply because the party leadership has changed.
Damn. Can’t believe New Labour is getting tarred with accepting soccer tickets, fancy clothes, and vacation packages from British Peer Lord Alli. Seems so unfair. Wish people would stop accusing the Labour government of being corrupt, when they are very obviously following the rules of accepting gifts and definitely not operating on any quid pro quo.
New Labour has a set of accounting rules that count investment in capital as an expense and insists on running daily budget surpluses for their operating expenses.
Popping open your household account, making cartoonish bug-eyes, and announcing “We owe $200k on our 30 year mortgage but we only make $80k/year! We’re bankrupt for the next three years until we pay this house off!” This is New Labour accounting. It’s laughable and only ever used as an excuse not to spend any money.
On the flip side, this is the same party that insists on privatizing everything. From Thames Water to British Gas to UK Rail, every once-public service has to be turned over and rented back from the private sector. The Brits pass out these privatization contracts as sinecures, guaranteeing their financial friends huge piles of free no-risk revenues at the expense of the British taxpayer. And then they complain that the country has no money.
That New Labour slid directly into the driver’s seat the Tories left and gunned it isn’t something you can ignore, simply because the party leadership has changed.