This morning Treasury confirmed that Wayne Swan will break Australia’s $300 billion debt ceiling.
Only three weeks ago Wayne Swan said:
“…it is not necessary to do anything about the debt cap at all.”
(Hansard, 15 May 2013)
Now we have been told by Treasury in Senate Estimates hearings this morning that the expected peak of Commonwealth debt will be a massive $340 billion.
Once again Wayne Swan has not told the truth to the Australian people.
Wayne Swan didn’t tell the truth before the last election when he rebuffed questions about the carbon tax calling it a “hysterical allegation”.
He also promised a surplus over 200 times and then broke his promise – and today, Treasury exposed his claim about the debt ceiling.
The Howard government left a surplus of $70 billion in net assets & Labor has squandered it.
In just 5 years, Wayne Swan has increased the debt ceiling 4 times, firstly to $75 billion, then $200 billion, then $250 billion & then $300 billion.
An incompetent treasurer addicted to debt & Gillard is out every day promising more waste & giving away more millions we have to borrow to make herself look good.
It's no wonder they are heading for oblivion & Gillard is so loathed by the electorate, 30% is all the support she can muster.
She's fading more every day, the people don't listen to her, they hold her completely responsible for this dire position she has put Australia in.
Whitlam at least had his blind luvvies who to this day think he was a hero, Gillard will not be remembered kindly, her own party detest her now & they are showing it every day.
