Quote:
Originally Posted by snap0964
ScoMo and Friedy might deliver a surplus come 2Apr - too little too late I'd think, the damage will already be done. But then they might be doing a Wayne Swan, or it might end up a belated April fool joke.
I've got a good idea - let's put in a Mining Tax - we'll rake the $$$ in  |
Important to distinguish between a Government deficit/surplus for a fiscal year and total Government debt accumulated over several years.
Politicians will try and confuse the two to make themselves look good.
Government debt (the amount we have to pay back) was at $174.5 billion in September 2013. Government debt is now about $341 billion. So both major parties have run up this debt.
Is Government debt a good thing or a bad thing?
Ask 5 different economists you will get 6 different answers.
IMHO the housing bubble is deflating. How fast and far it will deflate is the reason this thread is still going.....