The Libs have added almost $100 billion a year of debt since late 2013 and uptown Covid, spriked good economic management.
The repeal of the MRRT was an enormous blunder, IMO, because that would have yielded at least $30 billion in the interim.
The Libs management (lack thereof) of Multinationals tax rorting was also a big mistake, IMO because a proper Multinationals tax regime since 2013 would have yielded at least another $100 billion.
When(not if) the interest goes up , the taxpayer could be faced with up to $50 billion a year (currently $20 billion) in combined Governments interest on debt. Given both sides of politics aversion to lifting the corporate tax rate & tightening up tax avoidance, this debt will spiral out of control within this decade, IMO.
China will make sure that our economy wont grow at the rate since the GFC, so there's Buckleys of economic growth led by China bailing us out.
If we have to call in the IMF, World Bank & Wall St to bail us out, Then like the European countries that got in strife during the GFC, they will come in and set tax laws, curtail spending, sell sovereign assets and organise a timetable for the payment of debt; in short we'll loose our sovereignty .
And to spend $300 Billion on the credit card to beef up our armed forces to protect our Sovereignty might just inadvertently jeopardise it!
