Quote:
Originally Posted by Schroeder
Wasn't that always the plan to begin with?
Borrowing money left and right and leave it to our children's children to pay it back.
I believe every western country has been using this "strategy" for the last 40 odd years.
Unfortunately it seems we borrowed faster than our offspring could grow and now our spending is catching up with us and we have to pay the bill ourselves anyway.  |
Yeah, but the upward spiral of debt was always manageable without requiring the drastic measures that are now being voiced (I'm talking in terms of the UK here).
What we have now are unprecedented levels of debt...so bad that we are now spending more on debt/interest repayments than we currently spend on for example, defence.