Ian Stevenson's article on council debt is timely.
For those who get lost with figures, let's look at it in a different way. 125,000 people have managed to run up $391 million debt. (Or on Ian's figures $460 million.)
But if we take the nation's debt, we owe $143 billion. And this is only the personal debt for 4.4 million of us.
While some will want to do the division so we can know just how much it works out individually, so be it.
I think the two above sets of figures should scare the pants off us, but perhaps most of us are just resigned to our fate. Frankly, it's even scarier for those of us with no debt.
R McGuinness, Tauranga.
2 comments
HOW MANY PEOPLE?
Posted on 04-02-2013 13:53 | By YOGI
Tauranga does not have 125,000 residents, more like 110,000, the debt is $460 million so that is $4,200/pp or about $10,000 per household. Even bankrupted Kaipara is currently only $5200 debt for each ratepayer. The NZ Debt of $143bn is $32,500 per person, scary stuff that as soon as you are born you have debt against your name of $42,500, seems to me that our future is being enslaved by the debt, folly and indulgence of others. Is that the future we wish to create for our children?
SCARED PANTS
Posted on 05-02-2013 10:25 | By YOGI
The pants on this one left years ago.
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