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Between the Lines: How Darling can pay off his debt – but don't bank on it

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Published Date: 24 April 2009
EVEN so soon after the Budget, the numbers associated with the debt that Chancellor Alistair Darling is prepared to pile up are still jaw-droppingly mind-numbing.
Borrowings this year of £175 billion, next year of £173bn, and an Everest-sized national debt of £1,400bn by 2013-14 … good grief!

Well, here's a couple of numbers that are a lot smaller, a lot easier to understand, and which are just as important...



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  • Last Updated: 23 April 2009 8:46 PM
  • Source: The Scotsman
  • Location: Edinburgh
  • Related Topics: Peter Jones
 
1

Isonomia,

Lenzie 24/04/2009 09:51:02
You borrow money, you spend it, you boost the economy. But when it comes to repaying the money, you have to cut spending even more because of the interest and you shrink the economy.

And when the economy does well ... the bankers doing the lending to well ... and when the economy does badly ... the bankers doing the lending ...mmm do well.

The UK economy has just had one of the biggest ponsey schemes in modern history scamed on us, and ... who ends up paying?

 

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