you need to look at the bigger picture
take the total wealth of the nation and compare it with the debt. theres no real problem so long as changes are continued to be made.
http://monevator.com/wealth-in-the-uk-were-richer-than-you-think/
raising vat isnt a bad idea. you need to reduce it for the 'wealthy' however to encourage growth.
pointing out that boom and bust occurs (to whatever degree and frequency) is stupid and quite pointless. unless you can predict it of course, and then youd be the worlds richest. saying youd only take what you needed would again be stupid as you would want to ensure your position incase others had also spotted a pattern.
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