You would have a point if we were the only country to go into debt over this period but it was a global crisis for all those countries which had mistakenly hitched their horses to the finance capital wagon. George Bush and his 'free market' Republican loonies ended up having to nationalise a large percentage of the US banking sector. The Tories would have had to do much the same. Except, it would have been an even bigger debt under them as they were pushing for further deregulation and for more power to the city. New Labour were crap, no doubt about it. But the Tories over 13 years backed them all the way on all the key issues and were urging them to go further.