Official figures released yesterday show Britain now owes £1 trillion.
That is £1000,000,000,000 - a million million. Or £16,000 for each man woman and child living in Britain.
Despite all the talk of austerity and cuts to borrowing, government debt has risen by £117billion in the last 12 months.
The figure was reached after monthly borrowing fell by £2.2bn in December to £13.7bn.
However, Chancellor George Osborne is apparently on course to hit his borrowing target for the financial year of £127bn.
So the target was to borrow "only" £127bn more this year. The current total debt represents 64.2% of UK GDP
The last time the Treasury recorded a surplus was in the 2001/02 financial year when it repaid £243m.
A Treasury spokesperson said: "That our national debt has reached more than one trillion pounds simply shows the unsustainable level of spending this country built up over the past few years, and shows why it is critical for our nation's future that we deal decisively with the deficit."
But it is not being dealt with as the figures show! All this suffering is for nothing.
