If you say $200 billion quickly it really doesn't sound like that much.
From Ross Greenwood of Money News


Right now the Federal Government is at pains to tell everyone ˆ
including us the mug-punters to the International Monetary Fund - that it
will not exceed its own, self-imposed, borrowing limits. How much? $200 billion.
And here's a worry. If you work in a bank's money market operation; or if you are a
politician; the millions turn into billions and it rolls off the tip of the tongue a bit too easily.

But every dollar that is borrowed, some time, has to be repaid. By you,
by me, and by the rest of the country.

Just after 5 o'clock tonight I did a bit of maths for Jason Morrison.
But it's so staggering its worth repeating now. First though ... here's
what Chairman Rudd has been saying about - what he calls - these
temporary borrowings. Remember those words ... temporary deficit . But
the total Government debt could end up around $200 billion.

So here's a very basic calculation ... I used a home loan calculator to
work it out ... it's that simple.

$200 billion is $200,000 million. The current 10 year Government bond
rate is 4.67 per cent. I worked the loan out over a period of 20 years.

Now here's where it gets scary ... really scary.

The repayments on $200 billion come to more than one and a quarter
billion dollars - every month - for 20 years. It works out we - as
taxpayers - will be repaying $15.4 billion in interest and principal
every year ... $733 for every man woman and child - every year.

The total interest bill over the 20 years is - get this - $108 billion.

And remember, this is a Government that just 18 months ago had NO debt ..
NO debt. In fact it had enough money to create the Future Fund to pay
The future liabilities of public servants' superannuation ... And it had
enough to stick $20 billion into the Building Australia Fund last year
....

Ross Greenwood


Alan Jones Comment

......... A note that was sent to me which explains to me that the six
Leading members of the Government from Mr. Rudd down, the top six have a
collective work experience of 181 years, but only 13 in the private
Sector.
If you take out of those 13 years the number that were spent as trade
union lawyers, that totals 11, of the 181 years only two years were spent
In the private sector.

So the people who will rack up a net Federal debt of a minimum of $188
billion, the highest in our history, have virtually no experience in
business.

So out of 181 years:

- no years spent running their own business
- no years spent starting their own business
- no years spent as a director of a family business or a company
- no years as a director of a public company
- no years in a senior position in a public company
- no years in a senior position in a private company
- no years working in corporate finance
- no years in corporate or business restructuring
- no years working in or with a bank
- no years of experience in the capital markets
- no years in a stock-broking firm
- no years in negotiating debt facilities with banks
- no years running a small business
- no years at the World Bank or IMF or OECD
- no years in Treasury or Finance.

But these people have plunged Australia into unprecedented debt, and now
threaten to torpedo employee share schemes which they plainly don't
understand.

Well, in a way you can't blame them. It's clear that the electorate did
not do their homework, because the Government is there by right.

They were given a thumping majority to lead the country. It's just that
no one seemed to ask, most of all the press gallery in Canberra , in
what direction?

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Funny looking German Subaru

Dave just chilling, sipping on his big yard glass of haterade.

It was a difficult situation with the entire global economic emo breakdown. Would we have got through without the stimulus? Who knows.

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I am only an asshole on the internet :)

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Rudd will be gone by next election.. Question is, Is Abbott any better ?

Actually Teejay I am just trying to figure out where I am going to get $733 per month x 20 years to pay my share of the debt...oh hang on I have to pay for wife and son's share as well. Oh crap I am up for $2200 per month now.

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Funny looking German Subaru

Come on Dave, we both know you are more then smart enough to know your genuinely not making repayments of 2200 a month directly for this debt.

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I am only an asshole on the internet :)

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Teejay they the repayments will come in the form of...........wait for it......


HIGHER TAXES

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Funny looking German Subaru

I am a firm liberal supporter but I really am of the opinion that politicians are nothing more than figure heads. i.e. they just need to be good hr people. Surround themselves with the right people that do have the relevant experience from both sides of the spectrum and keep their own ego in check. The biggest problem is the knobjockeys like garret that are trying to run their own agenda and build their own empire without consultation with people that know anything.

In terms of the next election abbott will crash and burn and barnaby joyce will say something stupid and joe hockey will end up the leader. I just hope he gets up!

Cheers

Brendon

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Losing is worse than death. You have to live with losing....

Nah they will do what governments in other countries have done to try and vanish the debts...Literally print money

Holy shit... From the Howard days of no debt to $200 billion?

Say for a 3 year term, thats $182 million they are spending each and every day.

For the people saying we needed the 'stimulus package' to get through the GFC (I would love to know how that helped at all, anyway)... Say everyone in Australia got $1000 (rounding up to make maths easier). That's $20 billion. Where the hell has an extra $180 billion gone... Which is on top of the money they raise with our taxes!

I must be blind and not noticing these gold paved roads.

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[COLOR="Gray"]550Nm off a 2L... Just wish it was in the dak dak...[/COLOR]

Finally the idiots that voted for Kevin 07 along with those that thought it was time for a change, may realise now that they voted in a fruit cake! Johnny should have stayed in all along and handed down to someone with half a brain!

I was watching on the news recently how Ruddy was apparently under alot of stress... FFS!!! Note... Dave having just explained why! Because the fluent speaking mandarin is only good with words and nothing else! This drop kick, YES will be elected out and sit on his fat retirement income along with his corporate flyers card for the rest of his life! & for what because a bunch of brainless tards voted him in to start with!

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MY06 STi