Posted on 09/21/2024 5:21:26 PM PDT by ChicagoConservative27
The UK's public sector debt has hit 100% of the value of the country's annual economic output for the first time since the 1960s, according to official figures released ahead of the chancellor's maiden budget.
The Office for National Statistics (ONS) said, in a preliminary estimate, that the figure had risen from the 99.3% figure recorded the previous month.
Wider data revealed by the number crunchers showed that the government borrowed £13.7bn in August, up by £2bn on the figure expected by the Office for Budget Responsibility (OBR).
(Excerpt) Read more at news.sky.com ...
why do they compare to gdp?
are they planning on taxing at 100%?
a fair comparison would be to tax revenue
which would better reflect the ability to repay
I am sure some commie price controls will fix that ASAP!
They’re running up debt in the war against the indigenous population.
Some good solid communist Kamala “price gaging*” & “wage condrol” plus unrealized capital gains tax to boot should do it!
*versus price gouging
cloward-piven realized. hope those two burn in hell for a LONG,LONG time. sorry...mot very Christian of me.
By some accounts, USA already around 125% of GDP
Follow the breeders
Since the 1960’s? That was a great time in America or I’ve heard often. Didn’t seem to effect anything.
Oops. UK. But ours is around 85 percent.
Coming to America...
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Huh? The US has already exceeded UK’s debt, we are running 128 percent of our GDP, with $$$$$$$$$$$ 1.2 trillion in interest payments alone….mathematically impossible to repay……default is coming.
By some accounts, USA already around 125% of GDP
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By ALL accounts, USA already around 128% of GDP…..and our Federal Reserve has just posted another 200 billion in losses….historic but not a word about it on western MSM…..
…..so, this historic first, just how can the private Federal Reserve, the ones who print the money, have losses? …..hint, “ reckoning “ is imminent.
[National debt (UK) at 100% of GDP for first time since 1960s]
Why do you think they’re pushing for a nuclear World War III?
These idiots have wrecked everything - same for America
Less than two months in office since winning the parliamentary elections in July (these figures are for August), and the UK Labour Party’s policies are already taking effect!
We are well above 100% already.
Indeed another cost of socialism shines.
Where have you been?
🌐 Axios axios.com: › 2024 › 01 › 22 › us-national-debt-gdp
Debt as share of GDP for select economies
January 26, 2024 - The U.S. debt-to-GDP ratio surpassed 100% in 2013 and currently stands at 123%, according to the International Monetary Fund (IMF).
Not even close. It is over 100% by about another 20% + or minus, and most likely +.
We surpassed 100% in 2013 BTW.
America doesn’t have to worry as much. With the dollar being the world’s reserve currency there will always be much bigger demand for USD assets to buy commodities like oil etc.
The £ is only useful for international transactions when one of the parties is the UK or a UK company.
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