Our £800,000,000,000 legacy of debt

[threegee]

Actually Brown has cost us even more than I thought.

We have to pay this back, or our kids do!

http://www.debtbombshell.com/

Anyone who isn't shaken rigid by this isn't living in the real world. It's not just another big number it's our declining standard of living for the next quarter of a century.

Nor is it "a global problem" - it's OUR problem.

[Malcolm Robinson]

Thought we went through a decent period of actually repaying the national debt?

Oh yes that's right the Iron Chancellor stopped the repayments and started the borrowing again......... about the same time he sold half our gold reserves which have lost us around 8 billion at today's prices, knackered pension schemes, imposed a fuel tax escalator............

[Stephen]

Actually Brown has cost us even more than I thought.

We have to pay this back, or our kids do!

http://www.debtbombshell.com/

Anyone who isn't shaken rigid by this isn't living in the real world. It's not just another big number it's our declining standard of living for the next quarter of a century.

Nor is it "a global problem" - it's OUR problem.

It's terrifying. It isn't just the debt, it's the budget deficit - £20 million an hour being spent that we don't have. Or to put it another way I reckon it's about 36p on top of the basic rate of income tax. So if the next government is to achieve the target of halving the deficit in four years, it will have to make huge cuts in public spending and no doubt big tax rises too... and even if successful then the debt will still be going up by £90 billion a year.

[Andy Millne]

Or to put it another way I reckon it's about 36p on top of the basic rate of income tax.

That's quite a lot (understatement of the year).

Especially considering the average debt for every UK adult is £30,000. 133% of average earnings.

Still... it's not all doom and gloom. Look how many flat screen TVs we all have now

[Malcolm Robinson]

That's quite a lot (understatement of the year).

Especially considering the average debt for every UK adult is £30,000. 133% of average earnings.

Still... it's not all doom and gloom. Look how many flat screen TVs we all have now

That it the real problem for me GGG it's all about misdirection. It's the same as the way a magician works, you look at the right hand and don't see what the left hand is doing. While everyone has been thinking how well off they were, deluded with house price increases and cheap loans, the country has gone bankrupt.

Been talking to a director of a hedge fund group recently and he says they are back to making millions but this time there is no safety net, no one has learnt any lessons in the city! At least Obama seems to see the ramifications.

[Dajazar]

That it the real problem for me GGG it's all about misdirection. It's the same as the way a magician works, you look at the right hand and don't see what the left hand is doing. While everyone has been thinking how well off they were, deluded with house price increases and cheap loans, the country has gone bankrupt.

Been talking to a director of a hedge fund group recently and he says they are back to making millions but this time there is no safety net, no one has learnt any lessons in the city! At least Obama seems to see the ramifications.

Malcolm,

As always your spot on. No one is telling the public what is happening the city will never learn any lessons and we need to wake up and smell the coffee