A very revealing post from Dan Miller over on his US blog. He’s been writting about a study by the ‘Bank for International Settlements’ which has compared debt levels across 12 countries. Who do you think came out worst?
Amazingly, the long-term position of the United States is worse than either Greece or Portugal. Indeed, the only nations in more trouble than the United States are Japan and the United Kingdom.
Something to keep in mind next time you hear Ed Balls or Brendan Barber on the TV.