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UniversalTrader

21,744 Posts.

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07/06/24

08:59

Post #: 74207259
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Originally posted by oldbull26: ↑

"Yes it took 9 years plus covid to recover the budget from the last Alp govt incompetents. Then the Alp have reapt the rewards of that in the last budgets. Don't worry they are screwing things up fast we are heading back to deficits"

Correction................it took 6 years of coalition governments to take our debt from around $257 billion in 2013 to $542 billion in 2019 before Covid.. From 30.6% of GDP in 2013 under Labor to 41.8% in 2019 under coalition.. Thankfully we are now seeing the debt ration back to 35.1%

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Yes the debt went up due to the trajectory the Alp put us on
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