UK national debt just passed £1 trillion. Ask yourself, with savage financial cuts biting the public sector, how the debt has increased. The debt is increasing!
The Spectator comments “In the first 19 months since it took over, the coalition Government added £225 billion to the £779 billion debt it inherited. And it’s projected to rack up another £390 billion by the next election”. The UK will never pay that all back. In fact it may never get its public debt back below a trillion ever again. However, the UK still retains its untouchable AAA credit rating amidst a crisis across Western economies.
The vision of Western economic power and credibility is an illusion.
UK national debt just passed £1 trillion. Ask yourself, with savage financial cuts biting the public sector, how the debt has increased. The debt is increasing!
The Spectator comments “In the first 19 months since it took over, the coalition Government added £225 billion to the £779 billion debt it inherited. And it’s projected to rack up another £390 billion by the next election”. The UK will never pay that all back. In fact it may never get its public debt back below a trillion ever again. However, the UK still retains its untouchable AAA credit rating amidst a crisis across Western economies.
The vision of Western economic power and credibility is an illusion.
Posted 1 year ago & Filed under Islam, UK, debt, public debt, coalition, cuts, 7 notes View high resolution
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