Seer, I cant remember back to debate whether any of Sir Joh's debt was bad debt.
I can with Bligh however.
Out of her $64B debt, I would say $15B is bad debt. $10B for the panic induced investment in flood proof works, which could have all been avoided had Goss approved the Wolfedene Dam way back when.
The other $5B bad debt relates to funding operating deficits, similar to what the Commonwealth Govt has been doing.
I dont disagree with Newman making the cuts, I question why he had to lie before the election, when even Hannibal Lecter was going to win that election in a landslide.
He didnt have to lie. And he has lost a lot of political capital. His Govt will almost certainly win the next election in 2015 due to its massive majority but maybe without the leader himself.
