I'll take those labor estimates of outlying years with a grain of salt as long as labor is in government.
I'd really like to see how they think that government receipts are going to go up by 50% in a few years!!!
The total amount of debt these labor dolts have accumulated in addition to the debt to be piled on this year and the next couple of years under whichever party wins power has brought Australia into the 'never ever pay off the debt club'.
Australia used to be one, if the only country, that had zero of little net current government debt.
The labor government has insured that even if the Libs win government there will very little chance of a surplus for the first couple of years. All those nifty programs they have put in place will make sure of that.
To run a surplus and actually reduce debt the government would have to increase revenues to account for the larger and large amount of collected receipts allocated to pay interest on the debt and an additional amount to pay the principal amount which would be done by not issuing additional bonds or notes as they become due.
No doubt that in the next couple of years as the world adjusts to the fact that Japan becomes a net importer of funds, interest rates worldwide will increase causing Australia which is also a net importer of debt to have to pay higher and higher rates to compete.
The first palce that those rates will impact will be government debt.
Congratuations to the labor government for making it 'just like the USA' a debt ridden country that will never, ever pay off its debts and has put a burden on future generations.
