UK household deficit is at 'unprecedented' levels and we're completely unprepared for the next recession

Townhall.com Staff
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Posted: Mar 18, 2016 11:59 AM
The UK household deficit — the amount by which debts like credit cards, car leases, and student loans exceed our incomes — will reach 3% of GDP and stay there for an extended period, according to the Office for Budget Responsibility, which called the phenomenon "unprecedented."