Every time we have some research on paying back the public debt why is it always us that are to suffer?

The National Institute of Economic and Social Research (NIESR) said the retirement age should be raised to 70 if debt levels are to fall by 2015.

Alternatively, the government would have to raise the basic rate of income tax by 7p in the pound, it argued.

Other measures to reduce debt levels could include extending VAT to a wider range of goods, or imposing a five-year public sector pay freeze. BBC.

Never the Banks

City bankers are on course for £6bn of bonuses this year, 50pc more than in 2008. Philip Aldrick, Telegraph.

There’s £6bn off the national debt straight away.

Still I’m a voice in the wilderness – it isn’t important to worry about the debt, it’s more important to start the recovery – once the recovery is underway the debt can be addressed – if we start to repay the debt to early then we’ll have a depression a reading of the US depression shows us – Roosevelt tried balance the budget too early which in 1937 pushed the US economy back into recession.