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Far from financing new building, any cash generated from council rents has to go to servicing the debt they took on in 2012.
Strikers also argue that employees won't really get the 18% being paid into pensions by employers - quite a chunk of it will go to servicing the existing debt on the fund, they say.
Even after modification, $61 out of every $100 earned by the borrower goes to servicing debt, government figures show.
They argue only 13.25% of the employer contributions goes to the employee, 4.75% goes to servicing the existing debt.
Last year getting on for two-thirds of new domestic bond issues went to servicing existing debt; this year the figure will probably be over 70%.
Even going to service everybloodyweek.
Consumers are overstretched, with 21.5% of household income going to service debts.
The rest goes to service a £6,000 bank loan and a £3,000 credit card debt (currently at 0% interest).
Nigeria has a debt of $32 billion; 35percentt of its yearly foreign exchange earnings go to service this debt.
But if nobody owns the cars that drive us all around, who's going to service them?
So a new system came into being, in which a huge part of the world's capital flows went to service debt originating in the United States.
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