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Joined 8 months ago
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Cake day: March 2nd, 2024

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  • the thing is, it’s a gap between the money the government is spending and the amount of money it gets through taxes and other incomes each year.

    So it’s money that has to be borrowed from folks, every year to keep things going as they are. And each time that money is borrowed it needs interest paid on it which makes the problem worse. Especially with the high interest rates around the world.

    So british people are working hard, paying their taxes and a percentage of those taxes is going towards servicing debt that has been built up, by poor spending decisions in the past.

    It’s like payday loans for governments. you’ve either got to get spending under control, make more money somehow (tricks in the car park or maybe sell crack) or eventually reach the end of the road.