Earlier quoted context omitted.
As if Britain didn't have real problems to deal with: - Long term unemployment is at a 17 year high. - Government debt is at 90 percent of GDP. - Violent crimes is worst in EU. For years Britain has feared loosing sovereignty to the European Union. To me it seems like they should maybe worry more about American influence with all the wars they fight, the spying on their citizens and now the neo puritanism.
> "- Government debt is at 90 percent of GDP." Describing debt as percentage of GDP is a subjective anti-debt framing of the issue. Here's why: Units of debt: $ (here pounds). Units of GDP: $/year. So, units of debt/GDP: years, not percent. Since "100%" sounds like a high number, this way of framing the numbers is useful for scaring people. Putting it mathematically correct "11 months" sounds much less scary.
> Putting it mathematically correct "11 months" sounds much less scary.
Yes, and for exactly this reason it's dishonest: It implies that you could, if you wanted, repay the debt in 11 months - which is impossible.
Anyway, 90% debt is only scary if we decide that there is a threshold below 90% that is un-scary. If the threshold was 150%, then Greece is scary but UK isn't. If it's 10% then everywhere is scary.
Personally, I'm more scared and/or outraged by the way the money is wasted than by the exact size of the debt.