Government debt now past 1000 billion

[bengasman]

The net national debt has reached 830 billion pounds, which together with the 200 billion of "printed money" brings us past the trillion pounds.
No need to worry, as the government have the solution ready; the have proposed a bill that will make it a law for the finances to become better.
You couldn't make it up.

 

[Norcon]

Governments don't give a damn and thats clearly demonstrated by the expenses scandal. Thay all had their snouts in the trough.

The people as usual have to pick up the bill for their incompetence.

 

[oompah]

The thing that confuses me is that over the last umpteen years, successive governments have always maintained that pay rise's should always be kept at a mininum to ensure that there is not to much money circulating in the economy thus leading to high inflation thus leading to higher wage demands etc,etc.Now as stated an extra 200bn as been printed and distributed to where and whom?or is it an headline grabber,for Mr Brown to say look the economy was buggered but by these measures we have overcome and every thing is now hunky dory,and no extra money is actually out there.

 

[solman]

labour get voted in tax and spend like crazy 10-12 years on people get fed up with debt and vote tories in tories reduce debt with cuts etc 10-12 yrs on labour accuse them of failure to invest and hey presto there backin its just a merry-go-round

 

[bengasman]

... successive governments have always maintained that pay rise's should always be kept at a mininum to ensure that there is not to much money circulating in the economy thus leading to high inflation thus leading to higher wage demands ...

Last month we were at 1% inflation, this moth at 1.5%, by januari we will be between 3 and 4%; I am not a gambler, but would take bets on it.
With the effects of the money printing, tax increases and sterling devaluation trailing behind, I would not be surprised if we were back at 6% somewhere in 2010

 

[Bahco]

How can inflation be 1 % when food and everything else has risen like crazy!!!!!!!




£20 is worth nothing these days.

 

[bengasman]

How can inflation be 1 % when food and everything else has risen like crazy!!!!!!!

The same way as claiming "only" 8% unemployment, when no more than 70% of the population of "working age" is working (as is currently the case).
You fiddle the figures so they look better. You invent things like correction factors that make certain items weigh more or less, depending on what suits you. Or like with the unemployment, you rename certain groups so they become "economically inactive", instead of unemployed.

 

[roughcaster]

£20 is worth nothing these days.

Yep,,, you're right there Bahco, not worth the paper they're written on, so just send all your useless £20 notes up to me, where i will re-cycle them, and use them for "cheap" loft insulation.

Roughcaster.

 

[Whitespirit66]

No need to worry, as the government have the solution ready;

They're going to leave the mess for another government to sort out - just like '79.

That government (odds on the Tories at the mo)will have to make some really tough and unpopular decisions. New Labour inherited a reasonably sound economy, but instead of investing for the future, it was spend, spend, spend.

The prosperity that we appeared to enjoy recently, is just supported by a sea of debt.

 

[bengasman]

The prosperity that we appeared to enjoy recently, is just supported by a sea of debt.

Indeed.
One of the things that surprises me most, is the vast amount of people that don't understand we have not had a decade of amazing growth and economic boom. We have had at least 5 years of little growth, that looked like a giant boom due to incredible overspending by individuals and government alike.
If you add up the state debt, the commercial debt, and the debt of all UK residents together, you will probably find something that equals the earnings of all of us for 2010 + 2011.
Even if we would allocate a staggering 20% of what we earn, it would take an entire decade to pay it off.

 

[Nige F]

Wise words ..... and as we`ve just finished paying USA for WW11. Why not another 5 decades paying for the 80`s-2000`s debt extravaganza

 

[libby lou lou]

Why not give bnp or who ever it is today, a vote,shakes the government for a while.

 

[mark vincent]

£20 is worth nothing these days.

Yep,,, you're right there Bahco, not worth the paper they're written on, so just send all your useless £20 notes up to me, where i will re-cycle them, and use them for "cheap" loft insulation.

Roughcaster.

How can something be worth nothing?it must be worth something

 

[roughcaster]

T0sser, come on. It goes something like this. Erm,,, saying that £20 is worth nothing, doesn't mean that £20 is worth nothing. We all know it's worth at least something, but nothing like the big something it was, way back. £20 was worth something then,,, five £20's even made a £100.00,,,,, now that WAS something then,,, but comparing it to now, it's nothing.

Roughcaster.

 

[MisterG]

It's all those hidden loans to the banks and Fred the shred's pension .

Should be paid off by the time my great grandchildren start school - my daughter is 1 1/2.

G