SovereignLife Freedom Blog

Governments love fudging the numbers, especially when it comes to disclosing the actual size of the national debt. One way of discounting such a debt is to ignore what is termed “unfunded liabilities” – things like social security or pensions.

Well, the Institute of Economic Affairs has calculated the UK’s national debt – taking into account such unfunded liabilities – and come up with a total of £4.8 trillion (US$7.74 trillion), or £78,000 (US$121,000) for each and every person in the UK. That is a whopping 333% of the UK’s GDP!

It’s figures like these that underscore the severe economic situation we are really in – because if and when other countries calculate their national debt in the correct manner, I’m quite confident a similar bleak outlook will prevail.