It seems that "balanced budgets " are politically dirty words
nowadays with Governments of all ilks spending like drunken
sailers aided and abetted by the public who are doing ditto.
From the top down:
- Aus has $9.5 Trillion of debt
-Household Debt: $3.6 Trillion
-Housing debt:$3 Trillion
So its no wonder that we tolerate successive Governments
trashing the Credit Card and leaving the next generation
with this mountain of debt.
We are all responsible, IMO and the RW Populists who
spruik small taxes should think again because its
hypocritical to spruik low taxes and at the same time
defend massive budget deficits (ie the Abbott-Turnbull-Morrison era)
which in essence is future massive taxation.
The option is that Aus goes broke (defaults on debt)
https://australiandebtclock.com.au
