I said post some facts that back you up, not LW prog mainstream propaganda or stuff that doesn't.mantra wrote:You read the papers. Government debt and deficit has reached record highs in the last couple of years. While we concentrate on terrorism, we're not supposed to notice how bad the economy is. You might not like the Guardian as a source, but you can't dispute the Financial Review or Trading Economics.Rorschach wrote:Waiting for you to do some research and post some facts, not just your opinions.
As at the end of March 2015, Australia’s net foreign debt stood at $955bn, a record high. As a share of GDP, this was equal to 59.5%, also a record high.
http://www.theguardian.com/commentisfre ... lia-undoneThe hard facts are dumbfounding. Since the budget's underlying cash balance slipped into deficit in the 2009 financial year, the cumulative shortfall between what the Commonwealth spends and what it earns will total a record 19.5 per cent of GDP by June 2015.
And based on Treasury's forecasts, the cumulative underlying cash deficit since 2009 will add up to 24.3 per cent of GDP by June 2019. That heroically assumes Australia benefits from above-trend real GDP growth between 2017 and 2019, noting Treasury's very wide 90 per cent "confidence interval" over this horizon implies we could be on the brink of either a boom or bust. That is, Treasury has no idea.
http://www.afr.com/news/policy/budget/f ... 512-gguuugGovernment Spending in Australia increased to 70330 AUD Million in the first quarter of 2015 from 70032 AUD Million in the fourth quarter of 2014. Government Spending in Australia averaged 34113.84 AUD Million from 1959 until 2015, reaching an all time high of 70330 AUD Million in the first quarter of 2015 and a record low of 8769 AUD Million in the second quarter of 1960. Government Spending in Australia is reported by the Australian Bureau of Statistics.
http://www.tradingeconomics.com/austral ... t-spending
Which governments policies put us where we are and whose policies and their trajectory has us on a higher spending lower revenue path? Which parties have stopped legislation and reform meant to cut spending and increase revenue?
oh right....