GlesgaKiss

Has the way we measure this (or think of it) changed recently? I was shocked to hear on the radio today that the national debt was only approaching 65% of GDP.

Strange - because I'm sure it was previously not far off 100% of GDP. That was according to news articles and the like at the time.

A quick Google search brings up this:http://www.economicshelp.org/blog/33...national-debt/

I'm just wondering exactly what's included in that additional 'financial sector intervention' - nearly £1.3 trillion on top of £1 trillion that makes up that 65%. It seems like all the figures in the press have suddenly excluded something; I'm not sure what. But the figure that had previously been considered the 'national debt' must surely have included some of that 'financial sector intervention'.

Is this an active attempt to make us all feel better about ourselves?

Oh, and from that link: "the US national debt is close to 75% of GDP". Not in a million years! They're obviously at the same game...

Anyhow, I've just decided that my 'personal debt' is £10.50. However, my 'net personal debt', which includes things like debt and other vulgarities hardly worth mentioning, is £50,000.