The debt and deficit kings

[LEFTWINGER supreme]

https://www.michaelwest.com.au/coalitio ... six-years/

Read it and weep rightards, your economic credentials have been absolutely shredded

[LEFTWINGER supreme]

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.

[LEFTWINGER supreme]

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.

[sprintcyclist]

https://cdn.cuffelinks.com.au/wp-conten ... ion-AO.png


https://cuffelinks.com.au/federal-gover ... ch-little/

[sprintcyclist]

...................Some conclusions

The current level of Commonwealth government debt relative to national income is modest, and is lower than almost any other time since World War 1. It is also lower than almost all other countries in the world today. The only times it was lower than today’s levels was in the late 1960s to mid-1970s, and in the late 1980s.
Current interest burden on Commonwealth debt (as a % of national income and also as a % of government receipts) is also very modest, and is lower than almost any other time since before World War 1. World War funding was bi-partisan.
Although market yields on government bonds have been rising since July 2012 from their ultra-low post-GFC levels, rising bond yields don’t translate into higher interest payments on the bonds until each bond series matures and is re-financed, which in many cases is more than a decade into the future. Hence the government’s recent shift to longer bond maturities in order to lock in lower interest rates for longer.
Governments generally do not reduce debt levels by ‘paying off debt’ per se, but instead the size of the economy grows and that reduces the ratio of debt to national income. The two occasions when governments did actually pay off debt with government surpluses were in the 1930s depression (under Labor) and in the late 1990s to 2000s (under Liberal)......................

https://cuffelinks.com.au/part-2-runnin ... ment-debt/

[sprintcyclist]

https://cuffelinks.com.au/budget-time-l ... iscipline/

[IQS.RLOW]

Unfortunately for you and your little blog writer, being forced to continue rolling out ALP legislated buckets of shit doesn't change who filled the buckets. The ALP squatted down and filled billions of them, then stacked and stored them anywhere they could find.
Cleaning up their mess also has high costs. The place is usually trashed after an ALP shit party

But thanks for the timely reminder of the legacy of damage, destruction and waste the ALP are capable of doing though.

[LEFTWINGER supreme]

Superior economic managers,  adults in charge
https://youtu.be/V0DGjXE_BQQ

I don't think so rightards

[LEFTWINGER supreme]

Absolutely layed 2 waste the superior economic title