butchersapron
Bring back hanging
Public spending has caused the Sovereign debt crisis, a big chunk of that was on trying to prop up a failing banking system but also spending was high before the crisis hit. We started with a bigger deficit then places like Germany that have been better able to weather the storm.
Level of debt is only one aspect, previous period of high debt have been with low fixed interest in the form of US War Bonds. Our current debt is largely on the international bond markets and as such vulnerable to the sovereign debt crisis that has swept the Eurozone.
There is no sovereign debt crisis. Don't expect people to fall for that just because you have.