At this time the US has a 22 Trillion dollars of debt but also has 126 Billion dollars of debt liabilities, (IE long term debt incurred) which is money they will never, ever be able to pay
We hear that Australia has about 380 billion dollars of debt, but the figure is quoted as 443 Billion dollars in other places
What is not quoted and I have been unable to find is what is our long term debt, what have the politicians indebted us to in the form of orders, promises, legislation etc.
We hear about work on defense bases in PNG, NT and orders for boats, planes (inc Scotties new one) gifts to foreign powers, not to mention how all the infrastructure by State Governments is being funded.
I am in Victoria and the state is awash with government construction work, tunnels, bridges, hospitals, schools ETC ETC of course all good work for those in the Union Club but who is paying ?
Then there are derivatives IE basically gambling, which the banks and the government is heavily into and there the figures are mind boggling
The figure quoted for Australia is about 40 trillion dollars
World wide the figure is 710 Trillion 2oo + Trillion is the US share
But of course BOTH of our leading politicians are OK with these figures and continue to import more migrants, give money away to foreign governments and in general beggar the country further, and worse still, there is short of civil war no legal method to stop them using the Australian people, their work and their taxes like their own personal petty cash supply
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