He certainly looked nervous, confused and sweaty. As if he thought that pesky rabbit might pop up any minute.
As Wayne Swan was telling the Australian Parliament, and the Australian people, that the $59 billion deficit, and the $300 billion borrowing debt that the government intended, was a “temporary stimulus measure”… there was Elmer Fudd, in the bath, pulling out the plug. The bath water (the nation’s treasure), was gurgling down the plug-hole, and all Elmer could say was that it was “only temporary” and the bath would be full again by 2015.
Except that Elmer Swan didn’t say either ‘deficit’ or ‘billion,’ those words being too scary for the general populace. And by golly, we should be scared:
Australians will be paying nearly $9 billion per year in interest alone to service this, more than is spent on housing and infrastructure combined. Even at this rate, every man, woman and child will be burdened with a debt of more than $9000 until the borrowings are paid off by (perhaps) our grandchildren.
Hi, good post. I have been wondering about this issue,so thanks for posting. I’ll definitely be coming back to your site.