Quote:
Originally Posted by martyh
That is what is costing us dearly a quick google threw up this
http://www.economicshelp.org/blog/uk...national-debt/
a scary number that will undoubtedly get bigger before it gets smaller .Saving that interest payment or even half of it would go a long way towards restoring sevices that have been cut so the quicker we can get rid of that burden the better imo .
I don't understand why people can't realise that the uk's budget works exactly the same in principle to a house hold budget ,this year i will be using any tax refund i get to reduce or if possible get rid of the majority of my debt ,(i don't have a mortgage so my debt is relatively small)but in doing that i hope to free up more cash to keep in the bank for the lean times i know are just around the corner ...no holidays or big telly for Martyh  but i will have the security of no or not much debt |
After more than a decade of governmental profligacy, too many people have become used to spending what they don't have and being able to walk away if/when they can't pay and start again. It's not quite that simple for UK PLC to do that and any bail outs will come at massive cost as the Greeks and Irish have found out.