I saw something on the BBC News Channel yesterday afternoon (Tuesday 22 July 2015) that made me think I was losing my marbles.

Perching on the arm of the sofa, enjoying a few moments of shade after spending a glorious summer afternoon sweltering in the scorching heat of the garden, I was absent mindedly flicking  through the TV channels, when I came across an interview on the BBC News Channel between BBC Business Correspondent, Ben Thompson, and a lady from some City brokerage firm giving the usual market updates. At the end of the interview Thompson said something like:

“I suppose we can’t end without mentioning that RATHER BORING NUMBER released by the Office for National Statistics today: the government deficit for June.”

To which the City brokerage lady said something like:

Well, I don’t  think it’s boring. In fact it’s quite ironic that public sector borrowing last month was 50 percent higher than last year. When you consider that the financial crash of 2008 was caused by too much government borrowing, and total government borrowing since then has risen by another 25 percent, then when they finally decide we have to balance the books, some future generation is really going to feel the pinch.”

YOU WHAAAAT??? I was so shocked I nearly fell off my chair. Some FUTURE generation is really going to feel the pinch? Isn’t THIS generation feeling the pinch NOW! Isn’t lowering government debt what austerity was supposed to be all about?