If you're growing, if your economy is growing in real terms, ester than the debt, then you can grow your way out of any debt. But there's another side of it, and that's, how rapidly are you taking on new debt? So even though our economy was growing nicely, more rapidly than the rate of interest that the government was paying on the debt, we were adding new debt so rapidly that the debt income ratio is going up instead of down. Just keep on ploughing straight ahead. Let the clock tick....

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