Sunday, 18 October 2009
TREASURY ‘HIDES TRUE UK DEBT’
The Centre for Policy Studies said the figure now stands at over £2.2trillion – not £805billion as the Treasury claims. Lets at least be honest its 2.2 TRILLION and that fails to take into account how vastly inflated and skewed asset values are. For example the housing stock being over 5 times average wage when it should be 3.
Its not the debt that's going to be the immediate problem, its the repayment of the debt. We are going to be paying at least 2% of our GDP every year just to service the debt, and it will probably be more like 5%, that level of money export will guarantee us to stagflation.
Jobs were created, great propaganda produced. The truth is there were three people, full time, doing a job one person could fulfill in a normal working week. It's being going on for years.
This problem is truly scary as public spending gets cut, the impact will be all the way through the private sector, which will lose income for goods and services that it currently delivers to the public sector.
Call the election and get out, pity for the people following to pick up the pieces. We have been let down badly, by the Liebore party and they had the cheek to trump up the success!