Actually our debt is not the 75% reported publically.
This excluded our debt obligations for Interventions (QE), Public Sector Pensions and PFI’s.
The real percentage is 167%.
We should also be focus on the UK !
So the only thing stopping us being lumped in the same basket is our attempt to balance the books – keep our debt rating AAA. So all those who moan about the gov not spending money to boost the economy may not be looking at the bigger picture.
Borrowing money to spend it in the hope of getting others to spend their money dosent seem like a sound plan to me.