Frumpleton
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    • Frumpleton

      Sorry PrincessFiona, the whole ‘Labor debt’ thing that the Coalition trumpet as some kind of mandate for enacting horrible policies is a complete lie.  “And if you read the first Stability Review of 2013, issued this morning by the Reserve Bank, you find not a word of concern about the level of government debt, especially federal debt in this country from the nation’s pre-eminent economic manager. In fact, the Reserve Bank again points out that “given the low amount of government debt in Australia” regulators have been forced to devise a one-off system of ensuring Australian banks have enough liquidity in the event of a new financial crisis and the loss of access to offshore markets for our banks. The bank also finds the financial system remains solid, with bank debts under control, consumers continuing to save and pre-pay mortgages faster than they should and funding pressures on the banks getting easier.” Source: http://www.crikey.com.au/2013/03/27/heres-the-real-story-of-australian-debt/ Oh and while we’re at it, the Abbott government DOUBLED the government deficit. If anything, they made the biggest economic mess. http://www.abc.net.au/news/2014-05-06/has-the-government-doubled-the-budget-deficit/5423392 Of course, News Corp wouldn’t tell you any of that. Every other media outlet would though.