Quote:

Taxpayers may be forced to bail out heavily indebted states as cost overruns explode on public sector projects The International Monetary Fund has raised the alarm that taxpayers could ultimately be left footing the bill for soaring state debts. As states and territories, particularly Victoria and NSW, continue borrowing to fund government spending, the IMF warned liabilities may not remain contained at the state level. In its latest Article IV Consultation, the fund warned that the rapid accumulation of sub-national debt risks credit rating downgrades and rising borrowing costs. These pressure inevitably flow through to taxpayers, given that the federal government serves as a de factor guarantor to state debt. “As the Commonwealth is viewed as a de facto guarantor of state debt by some credit rating agencies, higher sub-national debt could eventually impact Commonwealth borrowing costs,” it said. Net debt in Victoria has exploded, with forecasts of almost $200 billion by 2028-29, above NSW on $130 billion and Queensland of $93 billion. Treasurer Jim Chalmers addressed the issue on Monday, acknowledging the link between spending and inflation, but refusing to criticise the states. “I don't give free advice to my colleagues. The federal government hasn't been considering any kind of bailout, but all of our budgets are under pressure,” he said. Mr Chalmers' own budget has been buried in debt, with gross debt forecast to exceed $1 trillion in the near future. S&P Global Ratings recently warned that state governments were spending like it was the pandemic, with aggregate debt of $660 billion, or 24 per cent of GDP in 2026. “Some Australian state governments are spending like they’re still in pandemic lockdown,” S&P analyst Martin Foo said. The agency predicted that state government debt would roughly triple from 2019 to 2027. Credit ratings for ACT and Tasmania were recently downgraded to AA, while NSW and Queensland carried a negative outlook. Meanwhile, publicly-funded major public infrastructure projects have ballooned well above their forecasts, adding further strain to state budgets. Deloitte Access Economics found that across 13 publicly funded megaprojects valued at $10 billion or more, costs were $130 billion higher than initially predicted. https://www.skynews.com.au/australia-news/politics/taxpayers-may-be-forced-to-bail-out-heavily-indebted-states-as-cost-overruns-explode-on-public-sector-projects/news-story/e77437b803868b9a2fbcc15c4af98d35

Taxpayers around the country are on the hook for Labors state government debts.

Chalmers will have to borrow more money to bail out our failed states.

...the keep using the Credit Cards 💳.

Politicians have never been good at Math.

Ban Politics from running Economies.
If they can't afford it.
The don't buy it.

Yep - dirty Dan sent us bankrupt - what an idiot he is.   >:(

But isn't 'Footy' the Victorian priority?
If you Victorians made Politics more of a priority.
You could have had someone like Bob Carr making Victoria Great Again.

Jasin wrote on Feb 18^th, 2026 at 5:37am:

But isn't 'Footy' the Victorian priority? If you Victorians made Politics more of a priority. You could have had someone like Bob Carr making Victoria Great Again.

Bob Carr was a Labor man.

It's always the same thing.
Labor gets into power - drives us bankrupt -
then the Libbos get into power and spend 2 terms getting the books OK again -
but people get fed up with the cuts so -
they bring back Labor  -
and we're back to big spending and going bankrupt again - an endless cycle.   ::)

Need to cut out all the real dead wood

All the frankly suicidal social science insanity has to go.

Homeland and Gondwanamo Bay for the deep recalcitrants, deportation for radical Outlanders, exile for home-growns.

The Governor of Victoria, Margaret Gardner -
should step in and sack the Labor Govt. for driving us into bankruptcy.
She needs to appoint administrators.

This might explain some of the bankruptcy:


https://7news.com.au/news/inquiry-uncovers-accusations-cfmeu-funnelled-15-billion-to-criminals-in-melbourne-building-corruption-scandal-c-21605746

Inquiry uncovers accusations CFMEU funnelled $15 billion to criminals
in Melbourne building corruption scandal.