Tin Man vs. Iron Lady

This will be worth watching!  According to a financial newspaper I will not name because it refuses me permission to copy and paste despite my habit of always providing links, Dave Tin 'Iron-man' Cameron is going head-to-head with 'die neue Iron Lady', Frau Merkel.  I know who my money's on!  Dave has stated clearly (well, sort of) that he will not countenance any increase in the EU budget whilst Britain is (allegedly) cutting our own.  If you detect a hint of doubt it arises from his actual words, “If there isn’t a deal that’s good for Britain, there won’t be a deal" and, of course, it's amazing how an increase in the EU's budget could be sold as a good deal for us, it's just a question of finding the right form of words.  In the meantime, Frau Merkel has telephoned him and threatened to call off the the next EU budget meeting entirely if Britain is determined to veto any increase at all.  Irresistible force meets immovable object!  And the EU polit-bureau has warned Britain of massive amounts of incoming diplomatic brown stuff if 'Tin Iron Man' Dave puts a spoke in their well-oiled wheels.  In the meantime, the Luftwaffe is preparing to drop its versionof the 'Bouncing Bomb' when it delivers Frau Merkel to London early next month for talks with Dave.  Done deal, I reckon!

 ADDITIONAL:  However, this from Isabel Hardman at The Coffee House: 

The problem for the German Chancellor is that if Cameron vetoes a deal, it will be good for him politically, but bad for Merkel as Germany will lose its rebate and therefore will have to contribute more.  If that threat was supposed to worry Number 10, it doesn’t seem to have had the desired effect. The Prime Minister’s official spokesman said this morning:

‘We don’t see a case for increases in spending above the rate of inflation.’

This suggests that there could be a small increase in the budget that is below inflation. What is most likely is that an agreement is reached to freeze the budget, rather than Cameron vetoing any other deal. But it’s important for the Prime Minister to be clear that he’s keen for more veto moments to keep his party on side.

 

Comments

[JK]

While we're on the subject of spending - somebody dropped a link into my inbox. Looks like I'll be spending some time scurrying round some Federal databases:

http://articles.marketwatch.com/2012-05-22/commentary/31802270_1_spending-federal-budget-drunken-sailor

(MarketWatch dot com incidentally is owned by the Wall Street Journal.)

[JK]

Course when "trillions" is being bandied about, we're sure as hell not talking 'bout a bunch of peanuts:

"...The 2012 deficit was equal to 7.0 percent of gross domestic product, CBO estimates, down from 8.7 percent in 2011, 9.0 percent in 2010, and 10.1 percent in 2009..."

http://www.cbo.gov/publication/43656

[JK]

From the last Bush enacted budget:

"...The Treasury recently reported that the federal government recorded a total budget deficit of $1.4 trillion in fiscal year 2009, about $960 billion more than the deficit incurred in 2008. ... Three initiatives, the Troubled Asset Relief Program (TARP), net cash infusions for Fannie Mae and Freddie Mac, and ARRA drove that growth, adding $353 billion to outlays in 2009, or 2.5 percent of GDP. Specifically, stimulus spending from ARRA totaled $108 billion in 2009, $32 billion for Medicaid, $22 billion for unemployment benefits, and $54 billion for other programs and activities. All other federal spending accounted for 22.2 percent of GDP in 2009, up from 20.6 percent in 2008. ..."

http://www.cbo.gov/publication/24992

David? Reckon there's any pressing reasons for me to post this stuff here in the US of A? FOX maybe?

[Backofanenvelope]

I am sat here trying to imagine a trillion peanuts! Is this an American trillion? Or one of those teeny-weeny European ones? I think I'll go to bed with the latest Ian M Banks book.

[JK]

Rummaging around in the Congressional Budget Office is damned tiring. Figure I'll skip the Office of Management and Budget - grab me a cold one and a bag of ... nope, reckon I'll make that a celery stick!

[rogerh]

I reckon Dave is in a hole - heading up a party of self-interest and lacking any options to help UK plc. He can bash the benefits 'cos there's lots of 'em and they don't vote and they don't count either but that is a very short term gain.

The outlook? How long before a British PM goes cap in hand to the EU saying 'can we come in please'. Think King Charles' face on the Brit-Euro. To be honest I am not sure which is worse....

[David Duff]

Thanks for the links, JK, I will postin gon the subject later today.

"Think King Charles' face on the Brit-Euro"
Thanks, Roger, you have just ruine dmy day!

[JK]

10:PM your time David - gettin' 'round to it?

Incidentally, I've noticed your spelling for today's comments. Those wooden sticks your NHS gave you to "sample" didn't mean for you to rub where your turds end then taste...