Swan Confirms $100Million a day Debt.

Federal Treasurer Wayne Swan has conceded the Opposition is correct when it claims Labor is borrowing $100 million a day to pay back Government debt. Mr Swan says the Government borrowed the money to support the economy during the global financial crisis.

Click here to read the full story in the “ABC News”

This Labor Government is sending the Country broke, $100Million Dollars a day, that a hell of a lot of money. How do they expect to pay this back plus all the other debt by 2013, if you believe that, you will believe anything. Tony Abbott and the Liberal Party was telling the Truth when they originally talked about this $100M. debt, it makes it very hard for small business as well if the Government is borrowing all this money there is less for others to borrow, not only business but home owners etc. You just can’t believe anything this Labor Government has to say, and their record proves that point.

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12 Responses to Swan Confirms $100Million a day Debt.

  1. Sue says:

    We really need a journalist to ask the question how people can seriously believe that we will be in a surplus in 3 years, when they are borrowing $100 Million a day, you can’t possible be heading for a surplus at this rate.

  2. justmeint says:

    Is this going to be a gender election people? That would be a grave mistake I believe. Issues and policies are the important things here, and not who has the sexiest ankles or the prettiest hair colouring!

    It’s not very long ago that the American People voted in their First African American President – on a platform of ‘change’. I would guess that non white Americans were delirious when Barack Obama was sworn in as their 44th President, praying for, pleading for and dreaming of great changes that would be of immense benefit to themselves. http://just-me-in-t.blogspot.com/2010/07/why-would-younger-women-vote-for-julia.html

  3. magsx2 says:

    Hi justmeint,
    I also hope it’s not going to be a gender election. I would hope that the majority of the Australian people would be looking at policies, and voting for which ever party they think is right for them and the Nation.

  4. gregoryno6 says:

    Another three years of Labor in Canberra and I’ll be auctioning body parts on eBay to cover the rent.

    • magsx2 says:

      Hi gregoryno6,
      We may not survive another 3 years of Labor, it will be hard to auction body parts on eBay, if we are all living with limited electricity, they may not allow us to turn on our computers.

      • gregoryno6 says:

        Bugger! I hadn’t thought about that.
        God, can you imagine a Sunday market full of people flogging their bits off? Er, by ‘flogging’ I meant ‘selling’.

  5. magsx2 says:

    Hi gregoryno6,
    Yep you got it, a different life altogether even our weekend markets will change.

    • magsx2 says:

      Hi ileum,
      Thank You for your comment. I had a read of the link and it stated:-

      “That high debt helped fund the Snowy Mountains Scheme and all sorts of other projects that set up Australia for fast and enduring growth as we came out of the second world war.”

      That of course is so true, and yes it was good debt, and as was stated in the link, we have been in debt before and we are not in a lot of debt now.
      I think the difference now, as far as I’m concerned, is the debt Australia now has is not good debt. It seems we have spent Billions on the pink bats, and Millions more fixing the problems of the pink bats. We spent Millions on grocery watch, and fuel watch, which both are no more. We have spent Billions on the BER program, most of that money wasted through rorts. This to me is useless debt.
      Had the same amount of money been spent on something like the Snowy Mountain Scheme, or building some sort of infrastructure that would benefit the people, I would not have a problem with that and I would call that good debt.
      But it seems to me the Federal Government has spent a lot of money on nothing, this is bad debt, and to keep adding to that in my mind is very wasteful indeed.

  6. ileum says:

    Not my post, mags, it’s Peter Martin’s. I’m at OzPolitik.

    • magsx2 says:

      Hi ileum,
      Opps 😳 Sorry about that, I have fixed up the comment I made, but I do stand by that. It was a different perspective of the issue, but I see it in a different way.

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