Posted on 08/18/2010 11:06:25 AM PDT by george76
Britain has sunk into a pit of debt which is five times deeper than previously feared, with the country now owing the equivalent of £200,000 per household.
Instead of the £1 trillion reading normally presented as the nation's debt, the UK is in the red by closer to £5 trillion...
a broader set of ONS figures taking in Government liabilities show unfunded public service pension obligations could add another £1.2 trillion and liabilities in unfunded state pension schemes a further £1.35 trillion.
The sum is almost four times the size of the UK's total gross domestic product in 2009...a more realistic - and starker - picture of the UK finances.
All governments (massage figures) and ...Gordon Brown was a past master at it - he was a master in stealth taxation and he was a master in making the numbers look the right way.
"We need to know what the figures are, and then at least we can tackle it."
(Excerpt) Read more at uk.finance.yahoo.com ...
Tell them NOT to worry, the U.S. Treasury understands this, has lotz and lotz of money, and can send them a WIRE and guarantee their loans up to 334 trillion dollars. We have the presses to print even bills in $1,000 denomination, with Mr. Obama on them. Watch for this soon.
Wow. On a per-person basis, that might even be worse that our debt...
I doubt it. If the US federal government's debt were to be restated in the same terms (including unfunded liabilities), it would be about the same.
Rule, Britannia!
They let endless illegals from Islamic countries flood in and gave them insane and endless benefits. Sound familiar?
http://www.businessinsider.com/unfunded-liabilities-jpmorgan-2010-7
And that doesn't include various state entitlement programs, which are estimated to be as high as 3 trillion, combined.
This whole “economic” thing is gonna crash the world when the perfect storm hits.
£200,000 Per Person? That’s more than most mortgages, and a lot of those people are dependents, not working taxpayers. We are f00ked. I can’t see any other way out of this other than default, which will destroy our reputation for credit worthiness for generations. If he had any decency, Broon would commit Seppuku, but I doubt even that would wipe away the shame and dishonour of destroying his own country...
Are they selling national treasures or monuments yet?
I want to buy the Tower of London.
The U.S. debt, including unfunded liabilities, stands at around 59 trillion.
DING DING DING DING DING, we have a winner.
Yup. We got about twice the debt on a per-persons basis.
I don’t think this story ends well.
[stolen joke alert] Thanks george76.
That’s over 100% of GDP.
It is. We’re about five years ahead of you, about eight years behind Greece, and about twelve years behind Zimbabwe
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