Countries go broke ‘because their ridiculous, ineffective, ignorant politicians consistently spend more money than they can raise.’

Flashback to 2011 when British politician Godfrey Bloom slammed “ridiculous, ineffective, ignorant politicians” who send their countries broke by spending more money than they have:

“I’ve put a little bit of modest money away so I can hand something down to my family when I pass on.” Bloom said. “Largely because I’ve never spent more money than I’ve earned, and I’ve been prudent, and I’ve worked moderately hard.

“Now, it always seems to me to be a complete surprise to politicians how countries get in debt. Let me explain because I don’t think you really understand it: It’s because politicians consistently spend more money than they raise in taxation, most of which in point of fact they actually waste.

“The reason we are talking about countries which are broke is because their ridiculous, ineffective, ignorant politicians consistently spend more money than they can raise. And then they borrow, and they borrow, and worse, they then print money because politicians and their Central Banks have a machine which prints money.

“You do that as a private citizen and it’s a criminal offense. You would go to prison for doing that and politicians and their Central Banks do it all the time.”

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