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trent3727

6,480 Posts.

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20/03/20

20:50

Post #: 43614206
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Originally posted by pete11: ↑

i have some terrible news, i posted that the aussie govt just added $90billion to our already massive $600Billion of debt, well on SBS news, the finance guy said our debt which was $600billion is now $850 BILLION, in one week, congratulation Sco mo and co. you have just dug this nation that you all claim to love so much into an even deeper debt black hole, thanks alot, our great grand kids wont even be paying this off, but who cares when sco mo and co. retire they will get their $300,000 /yr for life and retire without a care in the world,..
thanks for stimulating the economy, and at the same time, strapping a debt time bomb to all us, when % rates go up eventually, taxes will have to go through the roof to pay the additional interest on all the debt or services will be slashed, either way, the standard of living for aussies will gradually fall and fall, but like i said those making the decisions get their golden parachute and wont care what happens in 20,30,50yrs time when the chickens come home to roost.
what sco mo and co. have done isnt GOOD NEWS, it should be CRIMINAL, adding so much debt to the country in so little time is 100% IMMORAL and should be condemned by everyone and anyone who has even a small clue about financial matters.
Bring on AUD$ to US50c and gold to US$1900+, that should cushion the impact a little for those who own gold.

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Your taxes are not used to pay off fed gov debt. In the 1950s fed gov debt was 8 times higher as a percentage of GDP than it is now. Did baby boomers drown under high taxes to pay off the debt? Our taxes real use is to control inflation.

Last edited by trent3727: 20/03/20
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Top Stories

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Olam Agri raises Namoi takeover offer to 75 cents a share and receives shareholder backing

Mako sniffs gold at 170 g/t at Cote d’Ivoire's Napié play

Medallion Metals kicking off 15,000m drill run at Ravensthorpe gold play

Dale Gillham's weekly wrap: US fracking support boosts outlook for Australian gas stocks

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