SPEND SPEND SPEND..

The profound stupidity of the now prevailing "bail-out" mindset of the political elite both sides of the Atlantic is manifest in the news that UK Chancellor Alistair Darling has said Britain will SPEND it's way out of the recession.

"The Treasury will use public spending to fend off the worst of the economic downturn, Alistair Darling has said. With the UK sliding towards a recession, the Chancellor said he would re-direct billions of pounds into projects that will boost the economy. Despite increasingly tight finances for the period ahead, he also said he was determined not to scrap works that the country needs. Speaking to The Sunday Telegraph, Mr Darling said: 'This is a time when you have to support the economy.'You will see us switching our spending priorities to areas which make a difference.'

Let me tell you what he won't do.

He will not help private business by lowering the punitive taxation levels he imposes upon it. He will not allow ordinary citizens to retain more of their income. He will not reduce the burden of bureaucracy upon enterprise. He will not allow the property market to make the necessary price adjustments. He will not encourage the State Banks to lend on a sensible basis. 

So what is he going to do with all this spending? Answer; he's going to boost the State Sector.

"There are also suggestions that proposals for construction projects, such as schools, hospitals, social housing and leisure centres, will be brought forward in the forthcoming Pre-Budget Report, expected in the next two to three weeks."

Darling and Brown are the proverbial one club golfers. Tax and Spend, Tax and Spend, Tax and Spend. They have not learned from their mistakes, instead they prepare to make more of them.