$300billion is small .i can spend more ,rudd, page-2

If you believe that Abbott will be PM next week, then Abbott will be in charge of the purse strings.

Abbott only needs to add around $138b of debt to have the Liberal's share of debt match what Labor added to debt since the Howard government.

Considering around $30b to $50b could be added to debt by Abbott this financial year alone, it is quite achievable for Abbott to own half the gross debt by the end of his term.

$205b Labor debt. 2008-13
$67b Liberal debt. 2007-08

$138b of Abbott debt to make the Liberals share of the gross debt $205b, equal to Labors share of debt at $205b.

Going by what Abbott has claimed he will do and how he hasn't shown how he is going to replace revenue he is cutting. I'm estimating Abbott will add a minimum of around $70b to $90b to debt in his first term of government.

So he may come within $50b of matching Labors debt in his first 3 years of government.


It will be interesting to see if all those here on HC who have previously had trouble distinguishing between gross and net debt suddenly understand the difference.