Posted by Jon Wilcox PM | on Wed, 04/04/2001 - 16:48  1081

Dispatch Box: Maintaining security and service on a tight budget

There has been much made of the statement that “Government debt is the highest it’s ever been.” Whether this is actually true is a matter of debate as, some would argue, that it is lower than during 1920 and 1960 when it failed to fall below 100% GDP (the total amount of goods and services produced in one year).

In fact, it is a matter of public record that after the second world war government debt actually reached the dizzying heights of 250% of GDP due to a ‘once in a generation’ economic and political crisis!




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