FT.com / In depth - US banks borrow $50bn via new Fed facility

Looks like he is about to take us further into the mire in order to cling to power.

He'll do anything rather than tackle the real issues of why we are in a mess.

The country will be paying for this (economically and socially) for decades.

Edit. wrong link. I'll try again. Computer illiterate!
[Rep]

Gordon the Moron never kept to his rules that is why all the PFI stuff is off the books the man is an economic illiterate

The worrying thing is the Tories will stick to his spending plans how deep will the excrement be when this happens
[Rep]

The reason that the £50bn "loan" to Northern Rock was labelled "sort term" i.e less than 1 year, was to keep it off the PSBR.
I understand that the treasury have taken a leaf out of the European financial strategy book, the auditors have refused to sign off the books.
[Rep]

Here's a little quip that I devised in response to the pile of dog dirt that Labour's economic policies have got us into. To `get it', you have to go back to the 1970's, when the (then) Labour government was in a similar predicament:
Knock knock!
Who's there?
I
I who?
The IMF
[Rep]

It's easy to stay inside your fiscal 'rules' if you keep moving the goal posts.
[Rep]

A statement by Alistair Darling is intriquing. Appearing reasonable, he says that we probably won't want to pay more than around 40% of our income in taxes to support our public services, or words to that effect.
The intriguing thing is, do we really `just' pay 40% in taxes, or is it a lot more? I'm pretty sure that the real figure is much higher, but can't recall the source.
[Rep]

It takes until June 16th to pay your taxes, the rest you can spend on whatever you prefer, I make that a 50% tax take. (almost)
[Rep]

Sorry, didn't make myself clear. I mean the overall tax that the average taxpayer pays to the government including income tax, national insurance, VAT on purchases, fuel tax, Council Tax, TV licence etc.
I don't think that Darling was referring to this overall figure when he quoted the 40% figure. But it's this figure that most people are referring to when they are complaining about taxation under Labour.
[Rep]