QOTD - Economics

How they do it in England. in answer to a persistent question about the difference between a bond and a loan.

 Corbyn: No, because the – we have the rule that we would only borrow to invest for the future. We would not borrow for revenue expenditure.

So if the government calls it an investment, a bond is not actually a loan and the monies raised are not really spent as an expenditure, it's spent as something else. This kind of reminds me of the difference between a tax, which must be approved by the voters in Colorado, and a fee, which does not. We have had very few tax hikes here, but the fees are fast getting out of hand.

Mr. Corbyn, the front man for the Labor party over there, is the answer to the question "How dumb do they think we are?"