Archive for May, 2009

Debt = Intergenerational Theft
May 26, 2009

Prime Minister Rudd claimed that federal government debt would reach 13.8 per cent of GDP at most, roughly equivalent to 300 billion Australian dollars. Assuming that the $300bn is about right, the percentage is wrong and should be stated in excess of 31 per cent of GDP (roughly $800bn).

Un-remarkably journalists have failed to recognise the error. They bring a profound un-seriousness to the subject of repayment. Not least to the decadal time it will take. What a lousy, if not utterly rotten generation we have now from their forties through fifties and into mid-sixties. They embezzle from future generations for their own comfort and call it “infrastructure” or “stimulus”. They lie.