Social Security spending is going to overtake the country’s Income Tax receipts this year. Worse still, soon servicing Brown’s debt is going to cost us more than we spend on education.

It’s this ignorance of the ‘opportunity cost’ of money taken from the private sector and individuals by the Government that continues to baffle and amaze me. I’ve said before myself, the Government now spends more in a year than the entire wage earners of Britain earn combined. If you think about it, that sort of figure – over 700 billion – is the equivilant of 28 million private sector jobs. That’s 700,000,000,000 divided into the average wage of £25k. 28 million jobs. More new jobs than there’s people in the country to do them.

Yet it actually buys us a mere 5 million public sector jobs.  And the biggest reason given for protecting Government spending? It’ll cost jobs. Ha. Good one. What… wait? You’re serious? This is really happening?

If this is winning, I’d hate to know what losing feels like.