From Welfare State to Warfare State?
By Usvatte-aratchi-August 14, 2014
The very high proportion of total expenditure that government pays off as interest on public debt in 2008 and 2013 is a result of deliberate government policy to tax the public low because it wanted to win elections and yet raise government expenditure for more reasons than one, some of them entirely fraudulent and cynical. A desire to tax low and spend high must result in heavy borrowing and the high interest payments are the ineluctable result.