US, UK = Greece

Telegraph: Reports on the comments by the Governor of the Bank of England Mervyn King that the US and the UK are in the same debt boat as Greece. In other words folks the new Lib Dem / Conservative Government will have to make deep cuts in public spending, Wales and Scotland that had a good time in the economic boom years will have to make drastic cuts to spending, the problems in these countries is that the public sector has gone fat on Labour spending, thus the effects will really hurt in Wales and Scotland and Northern Ireland. But in less the UK wants to return to the IMF years of the 1970s these cuts in public spending will really have to hurt, the Conservative in their manifesto promised a reform of welfare, people have to take jobs that they don't want, the system can not afford the gravy years of Labour with the UK in the red, that red debts stands at around 160 Billion. The UK can not become Greece, thus the new government will be hated by next year, that is why a fixed term Parliament is a good idea, also the idea that for the Government to lose power it would need 55% of the House of Commons to vote for its removal, these public spending cuts will hurt folks, it needs time, thus lets hope the Mr Cameron and Mr Clegg have the backbone to do whats in the national interest.