Debt = Intergenerational Theft

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.


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