Thursday, 19 May 2011
What debt does to the US government, the UK is no better off. Interest on debt is a millstone around all of our necks.
Government Gone Wild have more of this sort of thing.
All governments are calling for a reduction in the deficit, not the debt. So long as the deficit is only reduced and not eliminated, debt keeps on rising and so do the interest payments. The Democrats in the USA, the Labour party in the UK and the BBC who support them both either don't get it or are unwilling to admit it, and it is we who will suffer the consequences.