'Uncontrolled public debt threatens to rupture society as the older generation thrives at the expense of the young.'
by Naill Ferguson
"As our economic difficulties have worsened, we voters have struggled to find the appropriate scapegoat. We blame the politicians whose hard lot it is to bring public finances under control. But we also like to blame bankers and financial markets, as if their reckless lending was to blame for our reckless borrowing. We bay for tougher regulation, though not of ourselves." [More…]
Maybe this chart will make it a little more clear?
It is estimated The Bahamas Debt to GDP including all libailities is approaching 63%. I wish we could confirm this.
