David Cameron is right: unless tackled the deficit will become very dangerous

Telegraph
"A little while back, the Governor of the Bank of England, Mervyn King, warned that we are still only halfway through the world's worst ever financial crisis. ....As it happens, there was nothing particularly new, or "worse" about the numbers he quoted in his speech. On the present trajectory, he said, the British government would within five years be spending £70bn a year on interest servicing costs alone. .....Unfortunately, Mr Cameron is right. There may be nothing new in the numbers, but the substance of his warnings are no exaggeration. "