I'm not an economist, except in the sense that I have run a small business. Still do. But I do know that you can only spend money that you earn, or are given, or that you borrow. And if you spend too much, you have to borrow too much, and when the borrower doesn't think you will be able to repay, you are in big financial trouble. Now I concede that running an entire country is probably a tad more complex, but the same basic principles apply. And its becoming clear that the current Labour Government is borrowing far too much - probably between £100,000,000,000 and £200,000,000,000 per annum too much. And we're not even in recession yet. Importantly, we have stopped believing what Gordon Brown, our Prime Minister is telling us. We think he has destroyed the British economy by his ideological obsession that it is only the state, through more public spending that can respond to every challenge. For a decade, he conned us into believing that he knew what he was doing. He even conned himself. In the beginning he acted responsibly, but in the end, he's wrecked the British economy. And there is going to be a very high price to be paid, mostly by the less well off. Gordon Brown has turned out to be another Denis Healey.
And then we have the spectacle of Nick Clegg, leader of the Liberal Democrats, announcing that his party's manifesto at the next election is going to promise a reduction in the overall tax take. No matter what depth of crisis the British economy has plumbed, no matter how eye-wateringly large is the budget deficit, Nick Clegg has said he intends to cut the tax burden. You believe that if you want to. I'd rather buy a car from Arthur Daley.
And what do the BBC do - or at least Andrew Marr. They take Clegg seriously. And they make a song and dance about David Cameron's refusal to act in the same irresponsible make-believe way. Even Brown's Ministers realise the game is up - James Purnell has realised that the Prime Minister is a busted flush, and has started talking some sense. As William Rees-Mogg says in today's Mail on Sunday, Cameron is now the only man who has the integrity to turn around the Gordon Brown inspired economic disaster. And Rees-Mogg is an economist.