Personally, I get the impression that there is a problem with the way the political system works. When a person is in power, they want to bring "positive change" to the economy, society and country at large. However, they know that they can pay for it using credit. These politicians don't mind doing so, as by the time the debt is called for repayment, the chances are that they will be retired, remembered for how much they "contributed" to the advancement of the country. Due to the fact that the government is permanently filled of employees with this mindset, debt will only get larger and larger and will always be "someone else's problem."
However, a second emerging problem is that the debts are reaching epic proportions, proportions which the government will struggle to deal with. The real question is: do they ever intend to repay? One may get the impression that the UK intends to rack up a few trillion in debt, then attempt to declare bankrupcy in order to ask for debt cancellations. The easy way out? The hard away out? Either way, the government is getting the immediate gratification it seeks, whilst delaying a much larger, and rapidly growing, problem.
Christopher Hutchison
