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Economy on a drip, page-9

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pete222

16,062 Posts.

142

08/06/21

00:16

Post #: 53703150
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Originally posted by moorookamick: ↑

While ScoMo and others spruik economic achievements during covid,
he should have his magicians cloak & wand to match his illusion.

The Government borrowed & spent an extra $200 billion last year (11%+ of GDP)
and needs to borrow an extra $166 Billion in FY 21-22 (thats 9.2% of GDP)
(This spending had a multiple of say 1.5 due to spending being primarily on domestic
services & imported goods)

If the Government hadn't done this (which is not sustainable) then we'd be in
depression now (that's negative growth of 10%)

The Libs have changed their tune from being Better Money Managers to bing Big Spenders
The irony of the matter is that now they intend to reduce ax for the middle and top earrners
as if we didn't have a Trillion dollars racked up on the national credit card!
Is this Trickle Down Economics or Tickle my Campaign Kick?

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What is debt ??

A : Servitude
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