Mr Brown Insists That We Can Spend Our Way Out of Recession Because Our National Debt's Lower Than Germany's. In Fact, the Official Figures Are Only the Tip of a Terrifying Iceberg of Debt That Amounts to [Pounds]150,000 for Every Family

Summary

---

TAKE a look at this depiction of an iceberg. It provides a frightening illustration of just how much trouble we are in, and explains why the markets are in turmoil and the pound is in freefall as investors around the world lose confidence in Britain.

Above the waterline, you can see what the Government describes as the official public debt. But it's a tiny fraction of the vast iceberg of borrowing which has holed our economy below the waterline. As you can see, the true extent of our national indebtedness dwarfs the published figure.

See the full content of this document

Extract

---

Mr Brown Insists That We Can Spend Our Way Out of Recession Because Our National Debt's Lower Than Germany's. In Fact, the Official Figures Are Only the Tip of a Terrifying Iceberg of Debt That Amounts to [Pounds]150,000 for Every Family

Meanwhile, in Westminster and Whitehall, it's goodbye Prudence and hello unfunded 'fiscal stimulus' -- tax cuts and higher spending financed by borrowing. But according to Gordon Brown, that's all right because: 'We have low national debt [so] we are in a position to take the action.' Surely Mr Brown, who has adopted hi...

See the full content of this document

---