Birdwatch Note Rating
2024-06-11 13:15:20 UTC - HELPFUL
Rated by Participant: AFA46B05B7E06D069378B63FAEAD19BB858D898B29C9E2022E2802C2659799E5
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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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