Australia’s rising government debt is more to do with falling tax receipts than high government spending. Why would this be an issue when our GDP has been growing so quickly?
With Reaganomics and Thatcherism the argument was that if the rich got rich, the wealth would be passed down to all. Well, guess what: it hasn’t worked.
When Euromoney picked Wayne Swan as their Finance Minister of the year it was greeted with disbelief from many. So, why do Aussies claim he is not worthy?
Banking is a beast, and a hungry one at that. To ensure the industry continued to deliver the profit growth shareholders demand, Aussie banks have been lending out more and more money.
The US can take a temporary sigh of relief with a deal struck to raise the debt ceiling, but debt is still an issue. Here in Australia, debt is the least of our worries, but we still keep talking about it.
Hey @PaulChantler. You deleted your Eurovision tweet. That's cheating!
Apocalyptic rise in prices. Time for the government to step in to help the less well off. The rest of us can just eat less. https://t.co/rra7WOQmPZ