In a speech to the European Parliament, British Conservative MEP Daniel Hannan confronts Prime Minister Gordon Brown:
In the last 12 months a 100,000 private sector jobs have been lost and yet you’ve created 30000 public sector jobs. pm, you cannot carry on forever squeezing the productive bit of the economy in order to fund an unprecedented engorgement of the unproductive bit. You cannot spend your way out of recession or borrow your way out of debt.
Hannan is furious with Britain’s response to the financial downturn, decrying the borrowing, spending, currency devaluation, and increased Socialization of the economy as destructive. It turns out that everything Britain is doing wrong is being done in the U.S.
Check out Daniel Hannan’s book, The Plan: Twelve Months To Renew Britain.
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Good. It means there are still some sane politicians out there. Daniel Hannan got it right, we can not spend our way out of recession or borrow our way out of debt.
Awesome video. I’m reading Emergency also — great book.