This diagram graphically represents the size of our daily spending on servicing our debt in comparison with our daily spend on other areas. It is a sobering reminder ahead of today’s budget of why eliminating the structural deficit must be a priority. The depressing thing is that controlling the deficit will not change the daily interest on the existing debt – it’ll just stop it getting bigger and bigger. We’re going to be paying for the party in the 90s for a long, long time to come.
Monthly Archives: March 2011