Up up and away. And this doesn't even touch on massive private sector debt that is even worse. Source: http://www.bloomberg.com/news/artic...faster-than-euro-area-puts-aaa-rating-at-risk
That is worrying. I never liked little Johny Howard especially when he paraded the world stage with his nose stuck right up G.W.Bush's ass for all the world to see. I did like how he kept us low in debt and his tough aslyum seeker policy which hopefully the Libs will continue. I dislike the Greens ever since they become pro asylum seeker.
It's one thing to state we have a budget emergency and gain the trust of the electorate with a passionate commitment to fix it, and another thing entirely to state this and as soon as you gain power, completely drop any reference to the emergency, remove the debt ceiling, ramp up borrowing like there's no tommorow and spend the next 3 years abdicating all responsibility for your actions by blaming Labor.
It looks bad, but that graph is a bit deceiving if it is just showing the "Delta" of the change in debt. Yes, too much debt is bad and I am all for electing fiscally responsible leaders, but take a look at this :- Courtesy of https://en.wikipedia.org/wiki/List_of_countries_by_public_debt From 2013 you can clearly see where the real problem lies. US, Japan and Europe are in serious trouble. This was the image that made me realize we have a serious problem with the democratic welfare state concept when coupled with the largely ignorant, naive and self serving voters of the West. Australia is definitely heading in the same direction but this deficit spending strategy is a well blazed trail and we should still have a way to run on it. My inner cynic says to me that Australia is headed to crisis anyway if the rest of the Western democracies goes down, so we may as well spend up and try to get some value out of this debt trend while it's possible. I'm more concerned about seeing money well spent (invested) on infrastructure, R&D etc rather than just pork barreling welfare handouts. But I do wish there was another way....
Red and Blue makes Purple. The colour of Royalty. Royalty let the peasants have a day of celebration every 3 or 4 years, and amuse them with trinkets to make them feel they have some control over their lives, and to ensure the guillotines remain dull and rusted over.
