The political class is obsessed with the level of public debt (as a proportion of GDP), but if we are really concerned about debt then we really should be looking at it in the round - public debt, corporate debt *and* private (household) debt - then the UK is no outlier!

(debt in itself is not necessarily an issue, its the ability to fund repayments that matters; debt has always been a useful way of utilising the future to fund the present!)

#debt #politics

h/t Economics Observatory/LinkenIn