A reminder of the debt that Australia has, while Labor can bury their heads and deny it exists the fact remains we have a huge problem with debt and sooner than later the chips will fall, no business, no state and no country can keep operating in the red, eventually those we own the money to will own us. Who will own us?
The state of Qld has debt of $80 billion dollars, Labor are saying they don’t think it’s that bad, Bill Shorten on Australia’s debt, there is no debt crisis, there is a crisis and we are in this situation because of Labor, no one else and the bottom line is Labor can’t fix this problem, their speciality is creating debt not fixing debt.
icy's post - source of following text not ascribed to author.
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.
Tony Abbott's speech - The Press Club
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 $667 billion.
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.”
OMG what is the CEC I wonder if they're friends of the IPA 
