The British budget cuts

The British has started to take bold steps to cut their budget deficit. Although people not used to it are protesting and I sympathize with that but it is not about the immediate problems but for the future of that country. The increasing debts that the developed world is taking to provide for their citizens can no longer be sustainable until the people also start to sacrifice and make do with less or even pay for the services that they were used to not paying for it. The new government in Britain have realized that without massive cuts in spending, the investors and the financial markets would not keeping on buying government or buy it at a premium and also the reality is that the spending has been outstripping the revenues too much.

I can understand that governments have an obligation to provide their citizens a decent social coverage but what is the limit of the decent coverage and where does it end. The more you give to the people, the more they will come to expect of it. In the good old times, it can be provided, but those times are long gone and probably would never come back given the massive amounts of debt that have been accumulated in yesteryears. For the sake of their kids and grand kids and the generations to come, the British( along with the western world) would have to start reining in spending or they will not be able to even get loans without massive interest hikes and diminished access to financial markets.