alp $100 billion back hole, what the f**k??, page-3

This article is about the debt ceiling and despite it being dated, it is worth a read.

http://www.marketeconomics.com.au/2004-lift-the-debt-ceiling-or-lose-liquidity

Lift the debt ceiling or lose liquidity

A matter of public sector financial management is turning into a risky political stoush. The government’s plan to?increase the debt ceiling to $300?billion is an essential element of maintaining financial stability, fully functioning capital markets and deep liquidity in the market for Commonwealth government securities (CGS).

The opposition is railing hard against lifting the debt ceiling for reasons that have nothing to do with governance or economics, but a lot to do with a political scare campaign. National Party member Barnaby Joyce says: “If you do raise the debt ceiling, you have a rather large train rolling off the edge of a rather large cliff.” This obscure metaphor and other unsubstantiated criticisms from the opposition on the debt ceiling rise highlight a misunderstanding of the role CGS plays in Australia’s economic and financial market stability.


http://www.theaustralian.com.au/national-affairs/treasury/swan-told-to-act-on-300bn-debt-limit/story-fnhi8df6-1226643419166

Wayne Swan has dismissed the need for immediate change and is preparing to hand the matter to the next government, declaring: "Well, that will be a matter for them."