Government debt headlines when it goes up or when the government says it wants to reduce it. The level of debt has spiralled out of control, and capitalism has no answer.
Debt
Birmingham City Council announced that it could not meet its financial liabilities. Essentially it is bankrupt, threatening both jobs and services. These are structural problems, shared by other councils.
The government has been borrowing at a huge rate – something that tends not to be reported in general news, appearing rather in the relative backwaters of newspaper business sections.
Privatised water companies continue to pollute. Regulation of the heavily indebted industry is failing to change this.