£1,824,675,547,739. (That should warm leftist hearts! Nearly TWO TRILLION!)
Government debt explained in simple terms.
http://www.housepricecrash.co.uk/forum/index.php?/topic/88350-simpleton-question-where-does-our-government-borrow-from/
Ironically, Labour governments - the all time worst offenders in accumulating national debt, have to use a capitalist system to implement their wasteful plans. Without this, they are not able to borrow the huge sums which put the futures of our grandchildren at grave risk and yet, at the same time, they spurn and curb wealth creation and hold the pathetic belief that high taxation is the panacea - so instead, they hide behind mantras such as 'the rich get rich and the poor get poorer'.
They are probably right but this is caused solely by their own lack of support for the enterprise culture which is the only tested means to escape this trap. Singapore, for one example, has got so much right in their mixed-race democracy. Their enterprise culture funds its incredible welfare system. This and its social strictness, fairness and expectations of its citizenry has created an economic and social model we would do well to emulate.
Tragically, our people have now got into the money-grows-on-trees mindset and government largesse is expected as the norm. Good budgeting is political suicide. And what our governments now queue up to do is the very opposite of FDR's brilliant 'pump priming' in the 1930s which helped end the Great Recession.
He funded mighty capital projects - our governments fund: bureaucracy, quangos, inappropriate welfare benefits, immigration, housing benefits to levels which would make you gasp - especially in London.
Furthermore, we see no social benefits from this. We have created generations of families who form a huge dependency culture with all the inherent social disaster that carries with it. Our society is now riddled with drones and the against-us-all underclass - but fails to give adequate help to those in genuine need.
Debt is a millstone around the neck for individual families but on a government level, its wider effects are far more devastating.
At the same time, as a nation, the left has drawn us ever further away from personal responsibility. This is so irresponsible but they need to be able to exert control over the masses. This is what is going to keep the poor, poor for the rest of their lives and for their children and their grandchildren and so ad infinitum.
The Tories, naturally more frugal by nature, cannot compete with this without being accused of 'cuts' - an election vote-loser if ever there was one.
Tory governments now appear to have given up on paying off national debts and with the greatest irony imaginable - Labour has the gall to pillory them when they borrow.
(Overtones of Catch 22?)
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Shame on YOU, Channel 4!
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http://www.telegraph.co.uk/news/politics/8729962/Quango-bosses-double-their-pay.html Good work, 'Dave'!