Australian Politics Forum - Coalition's debt and deficit DISASTER

Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Coalition's debt and deficit DISASTER Apr 13^th, 2019 at 7:59pm Coalition doubles all government debt since Federation in just under six years
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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Coalition's debt and deficit DISASTER Reply #1 - Apr 13^th, 2019 at 8:46pm 12 hours of crickets, the libtards economic credentials have been absolutely laid 2 waste, what a fantastic article that just nails it
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Karnal Gold Member Offline Australian Politics Posts: 98425	Re: Coalition's debt and deficit DISASTER Reply #2 - Apr 13^th, 2019 at 8:49pm Thank heavens the grown-ups are back in charge.
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Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: Coalition's debt and deficit DISASTER Reply #3 - Apr 13^th, 2019 at 8:51pm Karnal wrote on Apr 13^th, 2019 at 8:49pm: Thank heavens the grown-ups are back in charge. Oh, you've jumped the gun a bit Karnal. They will be back in charge soon.
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Karnal

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Re: Coalition's debt and deficit DISASTER
Reply #4 - Apr 13^th, 2019 at 9:14pm

Bam wrote on Apr 13^th, 2019 at 8:51pm:

Karnal wrote on Apr 13^th, 2019 at 8:49pm:

Thank heavens the grown-ups are back in charge.

Oh, you've jumped the gun a bit Karnal. They will be back in charge soon.

Well, that's a relief. Mr Abbott still has a fighting chance. Maybe he'll knight Prince Charles next time.

What a tall glass of water that man is. He may not be an economist, but he's definitely a culture buff.

Look, does it really matter if we're a few dollars in the red? We still have our fine culture war, no?

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Its time

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Re: Coalition's debt and deficit DISASTER
Reply #5 - Apr 13^th, 2019 at 10:07pm

Australia’s gross debt – updated Friday morning – has just clicked over the magic number of $543,409,430,000. This is exactly double all debt accumulated by every government between Federation and the 2013 election.

That’s right. The Coalition has added more debt in five and a half years than all governments over the preceding 118 years.

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Bobby. Gold Member Offline Australian Politics Posts: 111572 Melbourne Gender:	Re: Coalition's debt and deficit DISASTER Reply #6 - Apr 13^th, 2019 at 10:25pm The debt is $694 billion. https://www.australiandebtclock.com.au/
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Karnal

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Re: Coalition's debt and deficit DISASTER
Reply #7 - Apr 13^th, 2019 at 11:44pm

Its time wrote on Apr 13^th, 2019 at 10:07pm:

Australia’s gross debt – updated Friday morning – has just clicked over the magic number of $543,409,430,000. This is exactly double all debt accumulated by every government between Federation and the 2013 election.

That’s right. The Coalition has added more debt in five and a half years than all governments over the preceding 118 years.

So what? Mr Abbott's good for it. He's hardly going to run off with the kitchen sink, now is he?

Besides, his government's just balanced the budget. We'll have it paid off one day. Keep working hard, leftards. Every little bit helps.

There is a culture war on, you know.

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Dnarever

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Re: Coalition's debt and deficit DISASTER
Reply #8 - Apr 14^th, 2019 at 9:00am

Karnal wrote on Apr 13^th, 2019 at 11:44pm:

Its time wrote on Apr 13^th, 2019 at 10:07pm:

Australia’s gross debt – updated Friday morning – has just clicked over the magic number of $543,409,430,000. This is exactly double all debt accumulated by every government between Federation and the 2013 election.

That’s right. The Coalition has added more debt in five and a half years than all governments over the preceding 118 years.

So what? Mr Abbott's good for it. He's hardly going to run off with the kitchen sink, now is he?

Besides, his government's just balanced the budget. We'll have it paid off one day. Keep working hard, leftards. Every little bit helps.

There is a culture war on, you know.

Sad thing is that there always has been and we lose every time.

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Bam

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Re: Coalition's debt and deficit DISASTER
Reply #9 - Apr 14^th, 2019 at 9:07am

Quote:

In Julia Gillard’s last full financial year, 2012-13, total debt taken on was just $23.4 billion. This was set to fall steadily thereafter. Before the 2013 election, the heads of Treasury and Finance projected the budget to be in surplus in 2015-16, with debt to peak that year before declining.

The Coalition then changed Labor’s settings on both revenue and expenditure and blew out the debt further and further.

In its first year, the Coalition added a thumping $62.1 billion. That was followed in 2014-15 by $49.3 billion. Another $51.7 billion was borrowed in 2015-16, surpassed by a staggering $80.6 billion in 2016-17.

By April 2017, the Turnbull Government had doubled the debt Labor took under six years to accumulate – through the worst global recession in 80 years – $213.2 billion.

The Coalition did this in just three years and seven months. During a period of robust global recovery. No pressing need for economic stimulus. And no infrastructure investment or other benefits to show for it.

There was no excuse for this. Revenue plummeted since 2013 as the Government allowed tax evasion to escalate. The total of the debt accumulated is close to estimates of the total corporate tax uncollected.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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Dnarever Gold Member Offline Australian Politics Posts: 59987 Here Gender:	Re: Coalition's debt and deficit DISASTER Reply #10 - Apr 14^th, 2019 at 9:24am And these arse clowns still campaign on good economic management. Unbelievable when they have achieved the worst economic results ever, these are the worst economic managers we have ever seen.
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stunspore Gold Member Offline Australian Politics Posts: 5097 Gender:	Re: Coalition's debt and deficit DISASTER Reply #11 - Apr 14^th, 2019 at 9:36am How to channel taxpayer money into donors' pockets without looking obvious? Cut all other outgoing spend so the budget balances! Guess Coalition couldn't do that right - not with the sharp oversight of the opposition.
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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Coalition's debt and deficit DISASTER Reply #12 - Apr 14^th, 2019 at 11:17am Superior economic managers, adults in charge I don't think so rightards
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Bam Gold Member Offline Australian Politics Posts: 21905 Gender:	Re: Coalition's debt and deficit DISASTER Reply #13 - Apr 15^th, 2019 at 9:42am Has anyone else noticed how the Coalition supporters are not keen to defend their record here?
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crocodile

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Re: Coalition's debt and deficit DISASTER
Reply #14 - Apr 15^th, 2019 at 1:43pm

Alan Austin is just a clueless fukkwit. He castigates the media for being misleading and proceeds with his own version of the same act but more blatantly.

Quote:

That’s right. The Coalition has added more debt in five and a half years than all governments over the preceding 118 years.

Of course he wouldn't point out that the economy today is 100 times bigger than way back then too. Might ruin his headline. At one point he shows historical debt to GDP yet the following chart is in nominal dollar terms. Purposely attempting to hoodwink the reader into believing that it is worse than it is. Putting his chart into realistic measures, todays gross debt is around 35% of GDP. A bit less than the '96 figure of 39%.

To make it look even worse he uses gross debt figures rather net. What a fukkin' imbecile. Does the gummint have no revenue or something.

Even more hilarious is his comparison with the EU and their so called debt repayment. Have a look at the scale. He probably hoped nobody would notice. EU debt fell from 92% to 87% but his picture looks nice. Trying to convince us that the Euros are on the path to fiscal rectitude. Face it, they're in a right mess. The difference is that here we're running an expansionary fiscal policy as opposed to the IMF imposed austerity policies of the Europeans.

Not much point spending more time laughing at the idiot. The article is complete rubbish and nails nothing. It did its job though in hoodwinking all the Neanderthals that reside in this place.

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Very funny Scotty, now beam down my clothes.

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