More than the actual question of the debt, which actually seems manageable to me, is the question of how you’re going to reduce public spending, and thus deficits, with the consent of the people.
Brits went ballistic against Starmer for the removal of the winter fuel allowance, for no economically rational reason, it’d be even worse if he removed the triple lock.
And the French have the world record in public spending of any country and any reduction of that is seen as “austerity” by the majority of the population and parties representing a majority of the population want to bring the retirement age back down to 62 because again, the French people went balistic against Macron’s pension reform. Everyone thinks the only way of containing spending is to lower existing pensions, which would be again, even more unpopular.
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More than the actual question of the debt, which actually seems manageable to me, is the question of how you’re going to reduce public spending, and thus deficits, with the consent of the people.
Brits went ballistic against Starmer for the removal of the winter fuel allowance, for no economically rational reason, it’d be even worse if he removed the triple lock.
And the French have the world record in public spending of any country and any reduction of that is seen as “austerity” by the majority of the population and parties representing a majority of the population want to bring the retirement age back down to 62 because again, the French people went balistic against Macron’s pension reform. Everyone thinks the only way of containing spending is to lower existing pensions, which would be again, even more unpopular.