Dave says our debt is massive, huge and staggering. It’s so bad that every one of us owes £22,000 and if we don’t do anything the total will be £1.4 trillion in five years. (Dave thinks this is frightening but he may not realise that for those of us with credit cards, it’s pretty normal.)
08 June 2010
Quote of the day
Last word on the public spending crisis (well, probably not). Treneman in The Times:
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This implies everyone in the country has a £22k credit card balance at this very moment - not true by a long way.
A few years back I had more than this owing on credit cards, thanks to business start-up expenses, and I made massive efforts to cut back on spending, increase income and did everything possible to pay off the debts as quickly as possible. I've got a balance of around about £600 owing on my cards this month and will never get back into the state of owing loads of money, paying large chunks cash by way of interest and generally just being worried about the size of the debt owed.
It is about time that the public sector started to take the same measures as the private sector and individual households have taken over the last 18 months.
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