20 million a day in interest.

20 million a day in interest.

Posted in the Australia Forum

Labor sux

Wembley, Australia

#2 Sep 20, 2012
HE government's projected surplus of $1.5 billion next year won't be enough to stop its outstanding borrowings pushing past the parliament's legislated debt ceiling.

The government's outstanding stock of public debt was about $235bn in March this year. The government expects the total level of debt to remain below $250bn at the beginning and end of next financial year.

But the Australian Office of Financial Management, which manages and sells Australia's stock of public debt, is understood to have recommended the government increase the debt ceiling to between $300bn and $320bn in case the need to repay maturing bonds or lumpy tax collections cause total debt to temporarily exceed the debt limit.

As the government did last year when it lifted the ceiling to $250bn, its budget bills will include amendments to lift the ceiling to $300bn, which is about $40bn above where the AOFM thinks gross debt will peak sometime next financial year.
spind

Melbourne, Australia

#3 Sep 20, 2012
that story was from the Australian 9 May 2012

Carbon tax has happened since then so why isn't that the big worry?
Labor sux

Wembley, Australia

#5 Sep 20, 2012
When Swan came to office he couldn't measure a Debt to GDP ratio .. there was NO Debt ... Then after a spend up ... we had sound fundamentals with a debt ratio of 6% ... Keep the spending going ... because we were the envy of the world with a debt/GDP of 9% ... But hey ... Fundamentals are still sound ... Now we have a Debt/GDP of 24% ... So are you telling me after six years of ALP we will end up with Half a Trillion dollars of debt ... and Swan/Gillard walking off into the sunset with lifelong salaries and perks in appreciation of decimating Australia's economy.
Labor sux

Wembley, Australia

#6 Sep 20, 2012
Want to see how much money Labor has wasted.Laborwaste.org

http://www.laborwaste.org/...

You would have to be mental to vote for these clowns.
spind

Melbourne, Australia

#7 Sep 20, 2012
that's what they said about the carbon tax so why are we going back to old news and ignoring the carbon tax which we were told again and again over and over for two years would ruin the economy and wipe cities off the map?
Labor sux

Wembley, Australia

#8 Sep 20, 2012
spind wrote:
that's what they said about the carbon tax so why are we going back to old news and ignoring the carbon tax which we were told again and again over and over for two years would ruin the economy and wipe cities off the map?
Are you referring to the Carbon Tax that Jewliar promised wouldn't be introduced under a Government she leads?....that one?

BTW , The topic is our debt not the Carbon tax. Feel free to make one about Carbon tax as it is a separate issue and worth discussing.
spind

Melbourne, Australia

#9 Sep 20, 2012
Yes the carbon tax the Coalition have been hyperventilating about for two years. Why are we trying to ignore it now?
spind

Melbourne, Australia

#10 Sep 20, 2012
Why should we believe anything the coalition say if they can't back up something they have gone on and on and on about again and again about for two years?
Labor sux

Wembley, Australia

#11 Sep 20, 2012
spind wrote:
Yes the carbon tax the Coalition have been hyperventilating about for two years. Why are we trying to ignore it now?
Labor shouldn't crow yet. Any new tax needs time to filter through before the full impact is felt.
Anybody would be foolish to think the MRT and the Carbon Tax will have no effect on the mining industry. Investment is already in decline.
spind

Melbourne, Australia

#12 Sep 20, 2012
I'm sure Labor shouldn't crow yet but why are we ignoring the carbon tax now after being told again and again on and on for two years that it would be a wrecking ball through the economy?
spind

Melbourne, Australia

#13 Sep 20, 2012
Why should we believe anything the modern day Coalition say about the economy?
Labor sux

Wembley, Australia

#14 Sep 20, 2012
spind wrote:
Why should we believe anything the modern day Coalition say about the economy?
Care to comment on Labors economic performance? I have provided you with the facts via the links.
You are sounding a bit like a one trick pony.
spind

Melbourne, Australia

#15 Sep 20, 2012
My thoughts on the economy? I have a job, buy stuff I dont need, pay 2% less interest than when I got the housing loan in 07, inflation is extremely low, spent two years worrying about the carbon tax because I was told again and again it was going to destroy everything.

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