"We are getting to a point where we can't repay it."Wow, I...

"We are getting to a point where we can't repay it."

Wow, I suspect that if Mr Joyce has been quoted fully and correctly then that might just about do it as far as his political career as a front bencher goes. I suspect that the moderate Liberals and some of the big Liberal backers will have a quiet word to Tony Abbott that Sen Joyce's foot-in-mouth commentary is starting to reflect on Mr Abbott's leadership.

It is one thing for Sen Joyce to engage in pub-talk about whether the US will default on its debts but it is entirely another matter when he talks down the state of Australia's credit standing.

Imo making it worse of course is that the suggestion of the Australian Government defaulting is out there in la la land. The current levels of debt held by the Commonwealth will have an impact down the road of course but there is absolutely no suggestion that the Australian Government being at risk of defaulting.