6yo-deficit

John Mason MSP Doesn’t Know His Debt From His Deficit

John Mason MSP is a former accountant who is the Deputy Convener of the Scottish Parliament’s Finance Committee. Last month he was the focus of a lengthy conversation on twitter after stating that the “UK deficit (is) £1.5 trillion”. For those of you with time to squander the entire twitter exchange can be found here: https://twitter.com/JohnMasonMSP/status/703699151461203968…

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Monumental Fiscal Stupidity

All of the main political parties in the UK agree that government debt is a bad thing. All of them would like to fund 100% of government spending from taxation alone. There are many respectable economists who will tell you that this phobia of government debt is irrational, and I’m inclined to agree with them,…