misty, fairly certain I will not receive a response however, you state "There has been a lot of scare mongering about our grandchildren having to pay off these debts. My view is that the debts will be paid off within 5 to 6 years, not a long time."
yet Lindsay Tanner states "In the budget papers you'll see that the current deficit that's projected for this year is the peak and it goes down and down and down and, yes, we've got to stick to discipline to deliver it, but there is a trajectory out of debt within five years to get to surplus and then roughly another five or six years to actually repay the debt".
Tanner is suggesting that if everything goes 100% to plan, no little surprises over the next 5 years and we will stop creating a budget deficit and then maybe start creating a minimal budget surplus.
If we are lucky and this reckless government stop wasting hordes of money on ridiculous symbolic schemes, we can start looking at repaying some of the massive accrued debt, not to mention the mountains of interest, after 6 years.
It is going to take an inordinate amount of time to repay this staggering debt and loyalty to Rudd and co. will simply not change that FACT.
