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When is €10bn cut not a €10bn cut

Justin Collery · 2010-11-24 17:28:20

When our government do it!!! Unbelievable. Perhaps my definition of ‘cuts’ is wrong, maybe I’m reading the numbers wrong. Page 17 gives a graph showing the ‘reduction’ in spending to 2014 Page 25 gives the expected GDP figures for each year Match the two to get the cash figure for each year and guess what, they are the…

24-11-2010 5:28pm

#1

Justin Collery

Closed Accounts Posts: 192 ✭✭

Join Date: July 2004

Posts: 172

When our government do it!!! Unbelievable. Perhaps my definition of ‘cuts’ is wrong, maybe I’m reading the numbers wrong.

Page 17 gives a graph showing the ‘reduction’ in spending to 2014
Page 25 gives the expected GDP figures for each year

Match the two to get the cash figure for each year and guess what, they are the same for each year! Yip, not less, not by €1bn, not by €10, nope, exactly the same. They are not cutting in the you and me sense, they are cutting on the, I’ll hold off and not spend the extra couple of Euro sense.

The time bomb in all this, is that while the cash figure for spending is the same, the interest rises, reducing the actual spend.

This should be easy, stop spendig so much money, please.

JC

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