Australian Politics Forum - How much debt is too much debt??

woof woof

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How much debt is too much debt??
Sep 25^th, 2012 at 4:54pm

Given that the labor lovers on here see no problem with our level of debt, At what point do they feel that we'd have too much debt.

Do we go to levels such as Greece and Spain to keep our economy afloat.

I'd be interested knowing how much becomes too much.

Now they'l come out and say that our debt is 5% of GDP which equates to a 100K salary earner only owing $5000, Ok that seems ok.

But the 100K salary earner is repaying the debt the bank wont allow him to just let it grow like the governemnt allows its debt to grow.

And given we are borrowing billions more than we earn, what happens when we can't borrow any more?? what happens then, do we then become like Greece and Spain????

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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: How much debt is too much debt?? Reply #1 - Sep 25^th, 2012 at 5:09pm Should we go back to Howard era record household and private debt as well as record taxes? If we do its easy to get rid of govt debt
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woof woof Gold Member Offline Australian Politics Posts: 1518 Gender:	Re: How much debt is too much debt?? Reply #2 - Sep 25^th, 2012 at 5:16pm So are you saying that the labor governmnet has taken over ppl household debt???
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woof woof Gold Member Offline Australian Politics Posts: 1518 Gender:	Re: How much debt is too much debt?? Reply #3 - Sep 25^th, 2012 at 5:19pm Is that why our debt is so high, casue if it is I and many others I know missed out on the gov taking our debt off us, cause noone from the gov came and saw anyone I know and said how much do you owe, OK here is a cheque go pay it off we'll look after it for you. Thats what your saying isn't it???
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adelcrow

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Re: How much debt is too much debt??
Reply #4 - Sep 25^th, 2012 at 5:22pm

woof woof wrote on Sep 25^th, 2012 at 5:19pm:

Is that why our debt is so high, casue if it is I and many others I know missed out on the gov taking our debt off us, cause noone from the gov came and saw anyone I know and said how much do you owe, OK here is a cheque go pay it off we'll look after it for you.

Thats what your saying isn't it???

Howard just transferred debt from govt to households..we are finally getting rid of that debt and saving again so we dont need Howards method of transferring govt debt to households ever again
Also remember Howard was the highest taxing govt in this countries history which goes a long way to getting rid of govt debt but does nothing for household savings.

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cods

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Re: How much debt is too much debt??
Reply #5 - Sep 25^th, 2012 at 5:35pm

adelcrow wrote on Sep 25^th, 2012 at 5:09pm:

Should we go back to Howard era record household and private debt as well as record taxes?
If we do its easy to get rid of govt debt

if it was a poor idea then... what does that make it now.. when we have record mineral sales..

or maybe you buy this two wrongs make a right idea...mmmmm

as for me.. its also about what THEY SPEND IT ON..

as it is we have millions of waste..I find that appalling I really do.the govt has more advisers and consultants than ever before and still cant get it right.

why does that always seem to be okay with a lefty as long as its Labor/green?

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adelcrow

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Re: How much debt is too much debt??
Reply #6 - Sep 25^th, 2012 at 5:46pm

cods wrote on Sep 25^th, 2012 at 5:35pm:

adelcrow wrote on Sep 25^th, 2012 at 5:09pm:

Should we go back to Howard era record household and private debt as well as record taxes?
If we do its easy to get rid of govt debt

if it was a poor idea then... what does that make it now.. when we have record mineral sales..

or maybe you buy this two wrongs make a right idea...mmmmm

as for me.. its also about what THEY SPEND IT ON..

as it is we have millions of waste..I find that appalling I really do.the govt has more advisers and consultants than ever before and still cant get it right.

why does that always seem to be okay with a lefty as long as its Labor/green?

I agree..the federal and state govts can easily shed 100,000 public service jobs between them.
It wont save any money but it will mean billions for private companies taking up the work

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cods

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Re: How much debt is too much debt??
Reply #7 - Sep 25^th, 2012 at 5:47pm

adelcrow wrote on Sep 25^th, 2012 at 5:22pm:

woof woof wrote on Sep 25^th, 2012 at 5:19pm:

Is that why our debt is so high, casue if it is I and many others I know missed out on the gov taking our debt off us, cause noone from the gov came and saw anyone I know and said how much do you owe, OK here is a cheque go pay it off we'll look after it for you.

Thats what your saying isn't it???

Howard just transferred debt from govt to households..we are finally getting rid of that debt and saving again so we dont need Howards method of transferring govt debt to households ever again
Also remember Howard was the highest taxing govt in this countries history which goes a long way to getting rid of govt debt but does nothing for household savings.

can you explain that to me.. and with a link if you can as I dont understand how any govt can do that...

you have said over and over Howard was the highest taxing govt for one thing you are the only person that ever says that..all I remember was Tax cuts and bonus' to welfare recipients.

he was the one that also gave out baby bonus' not that I approved of that..but it still wasnt a tax was it??..he was also paying our servicemen thousands for being in Iraq and then Afghanistan..must include East Timor in that...

I mean it all adds up doesnt it?

and lets not forget the KEATING DEBT he inherited..all had to be paid back.. with interest.

you dont give any one their dues do you? just like swan and gillard..

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woof woof Gold Member Offline Australian Politics Posts: 1518 Gender:	Re: How much debt is too much debt?? Reply #8 - Sep 25^th, 2012 at 5:49pm How did he transfer federal debt to households. I didn't take on board any federal debt? Is this another one of your myths you try to pedal?
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...

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Re: How much debt is too much debt??
Reply #9 - Sep 25^th, 2012 at 5:49pm

Even $1 is too much debt.

If the government can't run the place on the billions (trillions?) it takes in taxes every year, perhaps they should cut back on the scope of their operations.

But it never seems to be questioned whether regulations to govern every minutiae of our existence are as "essential" as providing roads, infrastructure and defence - you know, what government was supposed to do?

"The bureaucracy is expanding to meet the needs of the expanding bureaucracy."
-Oscar Wilde

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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: How much debt is too much debt?? Reply #10 - Sep 25^th, 2012 at 5:50pm When the govt stops spending money on services the slack is taken up by households eg: cuts to police always means a rise in business for private security contractors and who pays for that?
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: How much debt is too much debt?? Reply #11 - Sep 25^th, 2012 at 5:51pm cuts to schools means a rise in business for private tutors..who pays for that?
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cods

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Re: How much debt is too much debt??
Reply #12 - Sep 25^th, 2012 at 5:52pm

adelcrow wrote on Sep 25^th, 2012 at 5:46pm:

cods wrote on Sep 25^th, 2012 at 5:35pm:

adelcrow wrote on Sep 25^th, 2012 at 5:09pm:

Should we go back to Howard era record household and private debt as well as record taxes?
If we do its easy to get rid of govt debt

if it was a poor idea then... what does that make it now.. when we have record mineral sales..

or maybe you buy this two wrongs make a right idea...mmmmm

as for me.. its also about what THEY SPEND IT ON..

as it is we have millions of waste..I find that appalling I really do.the govt has more advisers and consultants than ever before and still cant get it right.

why does that always seem to be okay with a lefty as long as its Labor/green?

I agree..the federal and state govts can easily shed 100,000 public service jobs between them.
It wont save any money but it will mean billions for private companies taking up the work

here we go... you sound more like woody green win than ever must be a green thing.. wriggle as much as you can never really answer a question.. and make sure you never admit to anything..

dont do as I do do as I say mantra..

can you explain how it is with the PS they use at least two people for every job...and we would still need two people in the private sector ??? wont happen

I am wondering how the future fund is going?? has this govt boosted it as they are meant to do?... isnt it meant to take care of .P.S. at the top end of course.

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... Gold Member Offline Posts: 23673 WA Gender:	Re: How much debt is too much debt?? Reply #13 - Sep 25^th, 2012 at 5:52pm adelcrow wrote on Sep 25^th, 2012 at 5:50pm: When the govt stops spending money on services the slack is taken up by households eg: cuts to police always means a rise in business for private security contractors and who pays for that? I expect that sort of contrived BS from an avowed communist.
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woof woof Gold Member Offline Australian Politics Posts: 1518 Gender:	Re: How much debt is too much debt?? Reply #14 - Sep 25^th, 2012 at 5:53pm So you think the government should keep on spending even when it has to borrow that money. So we come back to my original question, how much debt is too much, and what happens to us when the credit is cut off???
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