Mr Oliver is quoting the net Australian Balance sheet which subtracts all Comm Government' ass ets from debts. At present our actual debt (Comm, State & Muni disregarding current assets) is over $1,1 Trillion and growing rapidly. If our debt is as per Mr Oliver's chart above than why is the Commonwealth paying over $20 billion a year of interest only?
If as per Mr Oliver's chart above that the national debt is 20% of GDP: that is $400 billion , then why are we paying over 5% when the bond rate is sub 2%
Mr Olivers figures above ar like a home owner who owns a $1 mil dollar house but has a credit card bill of $500K saying that he/she has no debt. For us to get down to Mr Oliver's 20% GDP debt we'd have to not only flog all Commonwealth assets ( I'll Post a list link later, we'd have to do a Can Do Campbell and flog the State & Muni assets as well.
Our Grey generation have worked and accrued these Government assets. Keep in mind that the Future Fund's $200 billion is included in the above stats.
Mr Oliver being a banker would naturally want to see the Governments privatise the family jewels and still be in debt!
