Here is some sage fiscal advice from Polly Toynbee of the Guardian:
So if Gordon Brown believes in a new world order with new rules, here's his first test. If he can't do this here, then his global rhetoric will look thin indeed - and it's no use announcing some piffling sum and pretending it will do. If he dares borrow serious money to make a difference, expect a howl from Conservatives and their press. But it would pose a dilemma for them. Could Cameron oppose saving hundreds of thousands of young people? He would say, with some reason, that Britain shouldn't be in such debt anyway - but surely he'd have to support a new deal for the young.
I wonder whether Polly bothered to look at the UK's public sector accounts before she advised Brown to go on a spendfest? Does she really think that a fiscal gap of 10 percent of GDP is a "piffling sum"?
Apparently, Brown needs to spend in order to help the young. It is doubtful whether young people would benefit much from Brown's huge fiscal deficits. However, it is certain that today's young will end up paying for them.