Whilst we’re hearing all the hub-bub about paying down debt, here’s an interesting study by alec American Legislative Exchange Council) showing our 10.8% is ranked 47th. As you know, common sense tells us that such a large amount of our budget going to debt means less going to essential services and even less in the private sector. Here’s a link to the report by alec.
Debt service is an indicator that contributes to our competitiveness. We need to get this 10.8% down. Hopefully, we’ll see a turnaround in our economy and we can chisel this debt down.