In the run up to the 2010 UK elections I thought I’d run a series of posts highlighting the major issues that the UK currently faces. First up and probably not for the last time, debt! If you are not alarmed by our national debt, then you should be (I also invite you to have a quick look at your bank balance to make sure it’s ok) it is up to you to pay it back.

£899 billion owed, so only £14,000 for every man women and child in the country then. Notice how this figure isn’t getting an smaller, in fact it is set to bust through £1000 billion by 2011. As in my previous post, which discussed the ownership of the bank of england, and then looked at debt as a concept; the only thing we truly can say about debt is that left untouched and money borrowed for ill investment, will simply swell into an all consuming tangled web.

So now we have all this debt, what next? That depends on who you want to listen to, is it the cut cut cut to stop borrowing, tighten the belt and start reducing the debt; or is this money all seen as an investment, which may in the future ensure a return higher on the investment made. This you will have to decide when you go to the polling booth on May 6th.

überRelated Links

Who owns the Bank of England – There more to this than you think

Related External Sites

Debt Bombshell – it’s real, it’s ours and we got to pay it back
Global Debt Comparison – global debt just keeps on ticking
Government borrowing is pointless where a government issues its own currency.

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