The BURDEN of Labors DEBT

[nero_bolt]

Its staggering and the left havent a clue how to pay it back or a  solution yet all they do is yell and scream when some of their handouts are curtailed

Australians are currently paying $1 billion per month in interest on Labor's debt.

If we don't take action now, in 10 years Australians will be wasting $2.8 billion per month in interest payments.

[nero_bolt]

Yesterday, the head of the independent Parliamentary Budget Office confirmed the importance of immediate action to deal with Labor’s debt and deficit legacy.
 
Mr Phil Bowen, the Parliamentary Budget Officer, said without action Australia’s debt will grow at one of the fastest rates in the developed world.
 
He said: “It is time to start coming out [of debt and deficit], otherwise the longer you leave it the more exposed you become and the harder it is to wind it back.”
 
Because of Labor:

• Australia is currently paying $1 billion a month in interest on Labor’s debt;
• Australia would have the fastest growth in spending of 17 countries profiled by the IMF;
• Australia would have the third fastest growth in net debt of 17 countries profiled by the IMF; and
• As a result, without action, Australia’s gross debt would rise to $667 billion, with an interest bill of nearly $3 billion a month. 

[polksaladallie]

“There isn’t a crisis,” said Raja Junankar, an honorary professor at the Australian School of Business at UNSW.

“If you compare Australia to other OECD countries, we’re doing fantastically well.”

He said while the government is painting a picture of “ballooning government debt and an impending crash, this is patently not the case.”

His latest paper, Australia: The Miracle Economy said the country has done “spectacularly well” in recent years compared to other OECD nations in a range of measures from GDP to debt ratios and unemployment.

AMP Capital economist Shane Oliver said Australia is nowhere near the emergency status seen in other economies.

“I don’t believe the debt is at a level that it poses a risk to Australia. It’s a million miles away from Greece, Italy, Spain, if we think we’ve got problems we’re kidding ourselves.”

http://www.news.com.au/finance/economy/commission-of-audit-report-paints-bleak-picture-of-the-austra...

[fourandsixpants]

there is no crisis except in the job arena AND the fact that our govt is considering selling off the Mint and perhaps Australia Post later.

This topic/agenda is just another Liberal LIE.

[icyfroth]

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@polksaladallie wrote:

“There isn’t a crisis,” said Raja Junankar, an honorary professor at the Australian School of Business at UNSW.

“If you compare Australia to other OECD countries, we’re doing fantastically well.”

He said while the government is painting a picture of “ballooning government debt and an impending crash, this is patently not the case.”

His latest paper, Australia: The Miracle Economy said the country has done “spectacularly well” in recent years compared to other OECD nations in a range of measures from GDP to debt ratios and unemployment.

AMP Capital economist Shane Oliver said Australia is nowhere near the emergency status seen in other economies.

“I don’t believe the debt is at a level that it poses a risk to Australia. It’s a million miles away from Greece, Italy, Spain, if we think we’ve got problems we’re kidding ourselves.”

http://www.news.com.au/finance/economy/commission-of-audit-report-paints-bleak-picture-of-the-austra...

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Terry McCrann:

"And yes, another big lie promoted by both Shorten and former treasurer Wayne “deficits” Swan is that there was no Budget problem.

Oh no? Well then how come that, even with an extra $20 billion of hidden but very real increased tax thanks to bracket creep, the Budget is still in deficit in 2017-18 even after cuts by that year topping $15 billion?"

http://www.heraldsun.com.au/business/the-real-budget-black-hole/story-fni0d8gi-1226932283522

[*mrgrizz*]

if you take a little of what labor say and a little of liberals say

mash it all together, might get something that resembles the truth

[*mrgrizz*]

all these articles being pasted into these threads(not only this one), are still only THE AUTHORS opinion

but carry on pasting them as they are fact

[polksaladallie]

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@*mrgrizz* wrote:

all these articles being pasted into these threads(not only this one), are still only THE AUTHORS opinion

but carry on pasting them as they are fact

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But who are the authors?  Doesn't that matter?

[*mrgrizz*]

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@polksaladallie wrote:

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@*mrgrizz* wrote:

all these articles being pasted into these threads(not only this one), are still only THE AUTHORS opinion

but carry on pasting them as they are fact

---

But who are the authors?  Doesn't that matter?

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i don't think it does.

they are all opinion pieces, written with the slant of the author???

some say bad others will say good.

you can all ways find something to back up your arguement

thats how i see it any way

[boris1gary]

The IMF is certainly not known for being left or even slightly progressive.....

The International Monetary Fund is one of a number of influential groups now raising concerns that austerity budgets in a post-GFC world not only contribute to inequality but also act as a major brake on sustainable economic growth. The IMF's vocal stance is particularly significant because it comes from the group most synonymous over the past three decades for advocating big social service cuts to spur growth.

Read more: http://www.theage.com.au/comment/trickledown-theory-all-washed-up-now-20140527-zrpcc.html#ixzz32zG0m...