Why bother paying off the national debt

[BrilloPad]

Even with a mixture of tough tax and expenditure measures, the debt ratio would probably still be rising for several years.

http://www.telegraph.co.uk/finance/c...tor-debt.html#

Can't we just leave it to our grandchildren to sort out?

[Spacecadet]

I thought the tried and tested attitude to national debt was to pay interest only for 50-100 years whilst letting inflation take care of the capital

[VectraMan]

Can't we just walk away from this country's debts and create a new one with a very similar name doing the same thing in the same place?

[BrilloPad]

Can't we just walk away from this country's debts and create a new one with a very similar name doing the same thing in the same place?

To do the same thing again do we have to know what we are doing now?

[AtW]

To do the same thing again do we have to know what we are doing now?

No, as long as you let the City run this country...

[BrilloPad]

No, as long as you let the City run this country...

"The City" will exist somewhere in the world. We should be very grateful that it is in London and not elsewhere. Or this country would have almost nothing going for it.

Interesting protest against Goldman Sachs bonuses. Were GS to retain the money it would attract Corporation tax which would be alot less than the 50% personal tax. And if GS moved somewhere else then we would see none of that money.