What is the real burden of the national debt?
It is finally becoming clear that Nama will not be borrowing to pay cash for bank assets, writes Noel Mulcahy
In our view media commentary dealing with the national debt burden (on our grandchildren) has served only to confuse the ordinary citizen. The simplest way to think about the debt burden is to highlight the annual cash interest payments which must be paid by the state to cover the cost of the national debt.
All of us are paying interest on our bank overdrafts. We understand that burden. In 2008 the state paid €2.144 billion...
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