@icyfroth wrote:
Think about this and let’s ask ourselves where Australia is heading, a first grader could work this out.
In 2007, we had a strong and sustainable budget with a $20 billion surplus and $50 billion in the bank.
After six years of Labor, the deficit had blown out to $50 billion and gross debt was skyrocketing towards $66...7 billion.
$37 million a day interest, $1 billion a month, $11 billion + per year.
Right now, we’re borrowing $1 billion a month just to pay the interest on debt that the former Labor government ran up.
That’s right – one thousand million every month to pay Labor’s interest bill – that’s a brand new tertiary hospital that could be built every single month if Labor’s interest bill did not have to be paid.
If Australia is such a basket case as some would have us believe, why do you think we still have the AAA ratings from all the agencies? ALP got that rating because we were the only country in the world that weathered the GFC relatively unscathed. We had low inflation, low employment, low interest rates. The money ALP spent was invested in projects, in education. LNP just cuts and talks down Australian economy, which is detrimental internationally. Taxes are collected to pay what we need, hospitals, roads, education for future, not to be hoarded in surpluses. But now, the LNP are cutting and doubled the debt - it has been over a year they came in, maybe they should stop blaming past government and start taking responsibility.
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Voltaire: “Those Who Can Make You Believe Absurdities, Can Make You Commit Atrocities” .