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Guest KingCharles1st

Nothing New In Gordon Brown World

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In the UK on Tuesday, UK chancellor Gordon Brown told the Treasury select committee that the current economic cycle began in 1997, not in 1999 as the Treasury had previously assumed.

By changing the length of the cycle, Mr. Brown makes it more likely that his goal on balancing the budget will be met.

Mr. Brown’s so-called “golden rule†call for the budget to be balanced over the course of the economic cycle as a whole. By lengthening the cycle, which is to end this year, the huge surpluses of 1997 through 1999 can be used to help counterbalance the current economic slowdown which has resulted in lower tax revenues.

If you fail to meet your goal just change the rules so that you do.

This is blatant fraud.

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