3 ms·
Uk government debt as a proportion if GDP is more like 55% http://www.statistics.gov.uk/cci/nugget.asp?ID=277 http://www.statistics.gov.uk/cci/nugget.asp?ID=277
by adamt 17y ago
Uk government debt as a proportion if GDP is more like 55% http://www.statistics.gov.uk/cci/nugget.asp?ID=277 http://www.statistics.gov.uk/cci/nugget.asp?ID=277
The author if the original piece seems to have several key stats wrong which undermines his arguments.
- btilly 17y agoThe author of the original piece said total debt, not government debt. Total means total, and includes things like all of those mortgages out there (many of which are under water). Looking at http://en.wikipedia.org/wiki/List_of_countries_by_external_debt http://en.wikipedia.org/wiki/List_of_countries_by_external_d... I see that UK debt to the rest of the world is 365.44% of total GDP. It is not hard to believe that the internal debt within the UK to (meaning debt held by people, organizations, etc within the UK to itself) would be somewhere north of 35%. That would make the total UK debt over 400%. In another response I've pointed out that the total US debt is almost exactly 400%, so that quoted figure looks correct. The interpretation may be an entirely different thing.