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National debt at 100% of GDP for first time since 1960s
News sky ^ | 09/20/2024 | James Sillars

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 ...


TOPICS: Business/Economy; Culture/Society; Foreign Affairs; United Kingdom
KEYWORDS: first; gdp; nationaldebt; uk
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Coming to America...
1 posted on 09/21/2024 5:21:26 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

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


2 posted on 09/21/2024 5:25:22 PM PDT by joshua c
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To: ChicagoConservative27
The UK deficit problem can be easily solved by allowing more insane Islamists to enter the UK, then putting them on the public dole.


3 posted on 09/21/2024 5:38:11 PM PDT by Leaning Right (The steal is real.)
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To: ChicagoConservative27

I am sure some commie price controls will fix that ASAP!


4 posted on 09/21/2024 5:43:41 PM PDT by TexasFreeper2009
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To: ChicagoConservative27

They’re running up debt in the war against the indigenous population.


5 posted on 09/21/2024 5:56:14 PM PDT by glorgau
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To: TexasFreeper2009

Some good solid communist Kamala “price gaging*” & “wage condrol” plus unrealized capital gains tax to boot should do it!

*versus price gouging


6 posted on 09/21/2024 5:57:52 PM PDT by existentially_kuffer
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To: ChicagoConservative27

cloward-piven realized. hope those two burn in hell for a LONG,LONG time. sorry...mot very Christian of me.


7 posted on 09/21/2024 5:59:40 PM PDT by Qwapisking ("IF the Second goes first the First goes second" L.Star)
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To: ChicagoConservative27

By some accounts, USA already around 125% of GDP


8 posted on 09/21/2024 6:14:23 PM PDT by C210N (Mundus vult decipi, ergo decipiatur.)
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To: ChicagoConservative27
Coming to America...

Follow the breeders

9 posted on 09/21/2024 6:15:55 PM PDT by onona
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To: ChicagoConservative27

Since the 1960’s? That was a great time in America or I’ve heard often. Didn’t seem to effect anything.


10 posted on 09/21/2024 6:26:57 PM PDT by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: ChicagoConservative27

Oops. UK. But ours is around 85 percent.


11 posted on 09/21/2024 6:28:08 PM PDT by napscoordinator (DeSantis is a beast! Florida is the freest state in the country! )
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To: ChicagoConservative27

Coming to America...
————
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.


12 posted on 09/21/2024 7:02:25 PM PDT by delta7
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To: C210N

By some accounts, USA already around 125% of GDP
——————
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.


13 posted on 09/21/2024 7:09:13 PM PDT by delta7
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To: ChicagoConservative27

[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


14 posted on 09/21/2024 9:01:46 PM PDT by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: ChicagoConservative27

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!


15 posted on 09/21/2024 11:23:17 PM PDT by Mr Radical (In times of universal deceit, telling the truth is a revolutionary act.)
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To: ChicagoConservative27

We are well above 100% already.


16 posted on 09/22/2024 5:01:17 AM PDT by Brilliant
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To: Leaning Right

Indeed another cost of socialism shines.


17 posted on 09/22/2024 6:02:47 AM PDT by Vaduz
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To: ChicagoConservative27
Coming to America

Where have you been?

Brave search results

🌐 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).

18 posted on 09/22/2024 6:52:43 AM PDT by Robert DeLong
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To: napscoordinator
But ours is around 85 percent.

Not even close. It is over 100% by about another 20% + or minus, and most likely +.

We surpassed 100% in 2013 BTW.

19 posted on 09/22/2024 6:58:58 AM PDT by Robert DeLong
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To: delta7

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.


20 posted on 09/23/2024 3:56:14 AM PDT by sinsofsolarempirefan
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