Pay Up Kids
PressTV are covering some great stuff these days, try not to weep for to long before the impact of this settles in, just keep on telling yourself “I love my government” “I bloody love em”.
The UK’s debt crisis is worsening as the country’s national debt has passed the one trillion pound mark and continues to mount by £7,000 per second.
Britain’s debt reached £1,000,000,000,000 on Monday afternoon, according to a “debt clock” based on official figures, the British media reported.
The debt increase shows how deep the country’s financial crisis is. It is actually equivalent to more than £40,000 for every household.
“Labour ‘maxed out’ the nation’s credit card and burdened our children and grandchildren with £1trillion of debt”, said Conservative back bencher Matthew Hancock.
“Yet Ed Miliband says he’d do it all again,” he added.
“Until Labour admit their mistakes they cannot be trusted with the nation’s finances,” said the Tory MP.
Campaigners say the debt crisis will directly put the burden on ordinary people’s life.
“This is a terrifying new landmark and it is ordinary taxpayers that will be footing the bill,” said Emma Boon, campaign director at the TaxPayers’ Alliance pressure group.
“Every man, woman and child will be paying for decades to come if we don’t make spending cuts now, ” she warned.
The Treasury had predicted that the national debt would increase from about £900 billion at the start of the financial year to approximately £1,043 billion by April.