The National Debt – Something to be concerned about?

With all the massive amounts of spending/borrowing by our Conservative government, which has been forced to adopt Keynesian economics because of the pandemic, what are we going to do about paying it all back?

Clearly the right/centre right and even some of the left of UK politics will favour more austerity and lower taxes whereas the left generally will favour less or no austerity and higher taxes. We think like that because that’s what we’ve been told our options are. But are these black and white options really the only way forward to address the situation? Yes, I realise that some will say just kick the can down the road and let future generations pay it off; the ultimate act of selfishness you could call it? Now don’t shout at me, just have a look at the link below to a video on the BBC website entitled ‘Why we need to debunk the deficit myth’. I know, I know, it’s produced in US terms but the concept is pretty much the same in any sovereign country:-

www.bbc.com/reel/video/p08jbbry/why-we-need-to-debunk-the-deficit-myth-?ocid=ww.social.link.twitter

Have your views changed? Are you better informed? Or are you stubbornly staying in your tribal left or right tent unwilling to see a different perspective?

My thanks to Stephen Hesketh for the lead to this posting

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