Birdwatch Note Rating
2024-06-11 13:25:30 UTC - HELPFUL
Rated by Participant: 638B057F2A955D6F812F9B6A6EA67B66164447198D6FAE1529D21A75F626EAF9
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Original Note:
The ratio of debt to GDP was 60% when labour left office. It is now 100%. A country with a sovereign currency cannot go bankrupt, and to describe the situation when debt was proportionally lower than it is now as such, is disengenuous. https://www.taxresearch.org.uk/Blog/2023/04/18/modern-monetary-theory-an-explanation/
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