If Borrowing is Up, But Services Are Being Cut….Where is Our Money Going?

I don’t always agree with everything Scriptonite says, but on this issue I have no argument. Just where IS our money going to, and why aren’t we being told the full truth?

Scriptonite Daily

BU1

UK Chancellor George Osborne’s Budget yesterday informed the nation that by 2018 national debt will have doubled since 2010, whilst the welfare state and living standards have been crushed.  If debt is going up, and services are being cut, where is the money actually going?

 Short History of UK National Debt

 BU2

National Debt was a facility created by the development of bills and bonds on the 17th century.  It provided a way for governments to finance wars. It is recorded in £’s but it is also important to see it as a percentage of GDP.  This is important because debt is not significant without understanding how it relates to our income.

Funding World War I meant the debt shooting up to £7.4bn (127% of GDP) between 1914 and 1919. The following two decades saw the Wall Street crash in the 20’s, followed by the recession…

View original post 1,665 more words

Advertisements

2 thoughts on “If Borrowing is Up, But Services Are Being Cut….Where is Our Money Going?

  1. yaz lawsuits

    Do you mind if I quote a few of your articles as long as I provide
    credit and sources back to your blog? My blog site is in
    the very same niche as yours and my users would certainly benefit
    from some of the information you present here. Please
    let me know if this alright with you. Appreciate it!

    Reply
  2. lloyd irvin

    I do not even know how I finished up right here, but I believed this put up
    was good. I do not recognise who you are but certainly you are going to a famous blogger if you aren’t already. Cheers!

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s