[LINK] O/t: Coalition doubles all government debt since Federation in just under six years
StephenLoosley at outlook.com
Sat Mar 2 17:40:57 AEDT 2019
(Final mention of these ratbags. Promise.)
Coalition doubles all government debt since Federation in just under six years
Mar 2, 2019 | Alan Austin Featured, Finance, Government
The Coalition has just doubled all government debt accumulated since Federation. In under six years. Alan Austin reports.
Australia’s gross debt – updated yesterday 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.
There are three stories here. The first relates to profound fiscal mismanagement, the second concerns political hypocrisy, and the third is about the performance of the mainstream media. The latter is probably the lesson which most urgently needs to be learned. And never forgotten ... (snip)
The conclusion seems inescapable. Economics reporters and their editors in the mainstream media are paid to conceal what is actually happening in the economy. This is to maintain the myth that the Coalition manages the economy better than Labor. And thereby maintain the tax regime so beneficial for the big corporations.
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