When will the Conservative Party START to repay the UK's Colossal Credit Card?

The Chancellor of the Exchequer (the person that's employed to look after the country's "money") said in Parliament yesterday that he had no idea when the UK would start to repay the country's National Debt. This is very worrying.

These same Conservatives repeatedly pilloried Labour after leaving office with a National Debt of £900bn. Now, with the UK National Debt projected by the Chancellor to continue to rise for an indefinite period, the National Debt is likely to top a staggering £2 Trillion (£2000 Billion) by 2020/21.

This morning the Conservative Party said  that the UK's National Debt is "NOT OUT OF CONTROL". Well, they have to say that, because, if they dare to tell the truth, their paymasters in the city and the misled minority that voted for them, might withdraw their support.

Following the Conservative Party's appalling admission that they have no clue when the debt the government plans to saddle our children with will stop rising, I leave you with this dire and sincere warning:

If the National Debt is not brought back under control the markets will come like a thief in the night and rob you of your savings, collapsing the value of your pension fund stuffed with stocks and shares ludicrously overvalued by a false confidence engineered to maintain the sickening delusion that one day promises ruin us all.

Sources: Autumn Statement UK Gov
Read more: Why the Toffs hated Thatcher More on the UK's National Debt

PS. Margaret Thatcher, for all her flaws, will be turning in her grave.

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Do cuts in public services reduce the National Debt?

What's the UK's  National Debt Today

Given the gigantic increase in the amout the Government borrows on the people's behaf it's difficult to see any economic benefit to the Conservative led UK Coalition austerity plan. 

The National Debt, is the amount the UK owes the Banking System. The country's debt has ballooned from 900bn under Labour to over 1500bn today.  To get this debt down the Conservative Government has decided to cut Public Services, reduce police pensions, cut in-work benefits, ratchet up university tuition fees and has tightened up the rules so that fewer people can claim disability benefits.
This policy is run alongside the Conservative Party ideologically to privatise the Public Sector bit-by-bit. This is an old-fashioned policy may have had some merit in the 1980s - but doesn't appear to help reduce the National Debt?

I've been trying to make sense of it. It seems to me that there appears to be correlation between having too much money and a lack of imagination. Aping Thatcher and unthinkingly privatising public services (and they are - ask any GP) is not a properly thought through Policy, not in economic terms anyway. I see the cuts as, either, a clever way of shrinking the public sector, or simply a psychiatric fixation with Thatcher and the past. I'm not sure the Iron lady would be that impressed...

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