I just watched Costello being interviewed on Sky News.
He makes some excellent points. the main one being that it took the Liberals 10 years to repay the last Labor debt of $100B.
So, we now have $200B debt racked up by this Rudd Labor government in the space of two years. And yes, I know there is a GFC and that times have changed blah blah.
But, the debt remains.
So, how long to repay $200B debt? 20 years? who knows, but one thing is for sure. Not only have Australian taxpayers got to repay this debt, but they also must repay the INTEREST.
and how much will that cost? Who knows but you would want to hope that Mr Swan does everyone he can to make sure that we retain the highest possible credit rating. Otherwise, the interest bill will keep rising.
Eagle, misty and Dave. These are the facts. Can you see why the conservative "camp" is a bit nervous?
Or, are you guys not that concerned about bringing the budget back into surplus?
Cheers guys. I am off to Melbourne tomorrow for a few days, for some R and R (and wine purchasing at Mornington)
