Only 753 days to go – 753 days before Ed “borrow-borrow” Balls becomes our next chancellor

Yes I know Cameron is a spineless liar and I know Osborne is an incompetent, economically-ignorant buffoon who should have stuck to folding napkins�in Selfridges (the only proper job he has ever had). But bad as Britain’s situation is, I think that anyone with even the slightest understanding of�current affairs�- about 6% of the population – will view with horror the thought that in 753 days this creature will become our next chancellor

How do I know that only 6% of the population have any knowledge of current affairs? Because a survey was conducted amongst voters asking whether they thought Osborne was reducing national debt, keeping it at about the same or increasing it by over �600bn. Only 6% of voters understood that Osborne was increasing national debt.�A shocking 45% thought he was reducing our debt. That means 94% of voters don’t understand the difference between “deficit” and “debt”.

So what can we expect from Chancellor Balls? Probably a continuation of the Brown/Balls Spendathon – hundreds of billions borrowed and wasted and�perhaps Britain even giving up its EU rebate to curry favour with Barroso. Then our interest payments will hit �80bn a year, we’ll no longer be able to borrow anymore and we’ll gave to go crawling to the Troika for a bailout.

Still, at least we’ll have the pleasure of seeing the repulsive Balls being forced to impose massive spending cuts to undo the damage he and Brown did when they tried to bankrupt Britain. Or will Balls cut at all? More likely he’ll raise taxes and then raise taxes and then raise taxes and just for good measure raise taxes once more. Under Labour we once had a top rate of tax of 98% – could Mr “borrow-borrow” Balls take us back towards those levels?