One big problem

UK debt reached £1,377bn in Q1 2013. Just think about that number for a second. Actually, its difficult to imagine a number like this in our heads because it is simply too large to compute. With debt forecast to reach 99% GDP by 2014, when will labour, conservatives and liberal democrats admit that government spending has not been cut by enough.

Here is UK debt in euros:

 

As you can see we are catching up with France and Germany on total debt. What about debt as a percentage of GDP?

As you can see our debt is spiraling out of control like it is for many of the eurozone countries.

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