By James Ball, includes “… It’s a shame, then, that so often in politics – especially in the week of a budget – we start talking about government finances as if they work like a household budget…. For a household, budgeting is about accounting: making sure what’s going out (bills, rent or mortgage, debt repayments and so on) is, ideally, less than what’s coming in. But for a government, it’s really a matter of economics – when your actions can affect the whole economy of the country you manage, concentrating on the spreadsheets and the accounting can cost you far, far more than it saves.” (Note: Yes, governments are different from households. Households don’t have the ability to force other people to give them money, or to print the money they force people to use. And coyotes are different from rabbits.)
Read the full article on: The New European