"People in this country know we were on the brink of bankruptcy,
Do they George? Really? With our own currency, an incredibly strong credit record and much of our debt held by UK investors were we REALLY George? It might also interest readers to know that the private sector are hoarding something just above £3 trillion - enough to pay the entire national debt off several times over.
Although the UK debt figure of 64% of GDP is a lot it is worth bearing in mind, that other countries have a much bigger problem. Japan for example have a National debt of 194%, Italy is over 100%. The US national debt is close to 71% of GDP. [See other countries Debt]. Also the UK has had much higher National Debt. e.g. after the second world war it was over 180% of GDP.
As the deficit has been higher at almost every point in our history and was falling under Labour, unemployment was below the levels of the last Tory government and growth was strong, I await George's explanation of just how we were close to bankruptcy.
If his hyperbole gets any sillier, he'll run out of adjectives!
Does it matter? Well, stock markets, business confidence and investor confidence rely on a positive outlook. If George carries on with the doom and gloom, he could just push us back into recession anyway.