If you don’t get the debt picture – here it is

Media release from Barnaby Joyce:

A picture paints a thousand words so a good understanding of our gross debt is seen in the graph below.

It shows clearly that the Coalition is a government that pays off debt and that Labor is a government that creates debt and Mr Rudd is creating debt at a faster rate than has been seen in recent history. With gross debt currently in excess of $125 billion one would be foolish if they were not concerned by the trajectory of the growth in debt.   How would you feel taking this to your local bank manager as an example of your fiscal prudence, and the ceiling insulation program as an example of your management technique?

If we continue on the trajectory that is self evident in this graph we are most definitely going to arrive at a point of reckoning. This point of reckoning will place immense pressure on the budget and the delivery of such services as health, education, defence, foreign aid, childcare and everything else that relies on the public purse for payment.
Labor cannot just go on borrowing money at the rate that is portrayed in this graph and it is absurd to look at the trajectory of this graph and say that you do not have a concern. It is vastly easier to manage problems when they are manageable. It is far more prudent to “dot the i’s and cross the t’s” and manage the problem now than to wander into the chamber at a later date with a sorrowful look on your face wishing if only we had that time again we’d have done things differently.

While the ceiling insulation fiasco is an evident example of Labor’s lack of management in the forefront of government, this trajectory of debt exemplifies serious underlying concerns in the background.

Mr Tanner’s statement of not “dotting the i’s and cross the t’s” is beyond concerning, it is truly incredible.

If you don’t get the debt picture- here it is. // Senator Barnaby Joyce

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Comments

  1. I don't understand your argument. Do you believe it is better to have $200 billion of debt as what Rudd has done or do you think it is better to have $50 billion in the bank as Howard did? The irony of your argument is that Rudd has borrowed all of this money and still put next to nothing into infrastructure. Most of it was handed out and the rest was wasted on insignificant things. Where's the new bridges, rail lines, ports, highways etc? There are none. Howard did have plans for national infrastructure though he wanted to do it with no debt. I don't know how the Liberals increased the debt of individual Australians. Do you think Rudd didn't increase this individual debt when he plunged Australia into a $200 billion debt? Who do you think pays for that Karen? What is worse is Rudd's economic illiteracy (words of former ALP economic adviser Peter Walsh).

  2. I shake my head when Rudd tells Australians he will hold a referendum on the transfer of health to the federal government if the states don’t co-operate. Remember it was Labor in the 1920’s which had a referendum on the removal of the senate from Queensland’s parliament. Queenslanders voted 80% against the removal of the senate. The Labor Party abolished it anyway. They don’t care about what the people want. They clearly broke the trust of the people, even back in the 20’s.

    • I certainly don't agree with the debt, but if you want to compare Labour with Liberal then add to the equation the fact that the Liberals spent almost NOTHING on infastructure or the Australian people. They also increased the individual debt of each Australian far beyond tanything on that chart.. What is worse?

  3. The current debt crisis is only the tip of the iceberg. Rudd still has plans for his 'Big Australia' policy to bring in another 13 million immigrants and to do this we will have to borrow a lot more money to build infrastructure. The last big borrow is all gone with only a tiny amount spent on vital infrastructure. If Australians give him another term, It will be the point of no return.

  4. These figures include the extra 560 million dollars Krudd gave to African nations a while back that didn't even make the news. This funding for health and food was in addition to the money we already give! imagine what those funds could have done helping out the Aussies in need here. Seeing we have a population of 21 million that equates to $26.60 for every man woman and child in Australia , thanks Krudd for being so kind with our money that we had to borrow and pay interest on.

  5. Paul Toohey says:

    A year or so ago, a dear old friend of mine in his seventies sat down with me to have a chat. I said to him how wonderful it will be now the labour party is having a go.
    John the old bloke said "like Hell" now all the country will go to the pack!. I asked him why, he said every labour government since whitlam has spent the coffers.
    This Rudd government is no better. The labour party is like a rose plant deformed John said, you can see what is developing but can't at the time do something about it. Except RIP IT OUT!
    The huge debt is no surprise to me now, I curse old John in a way for being right.

  6. Although Labour is worse than Liberal in the debt stakes, the fact is both parties keep us debt enslaved. Australia and the entire world operate under a fiat money system which is by definition a Ponzi/pyramid scheme controlled by the bankers. Until the wider population understands this and does something to change it we will remain debt slaves no matter who is in power!

  7. Had to have a laugh recently when Rudd and Swan declared that government spending doesn't put upward pressure on interest rates, only a few weeks after the IMF said that it does. Either they are stupid or they treat Australians as though they are. I stopped laughing when I heard how much debt we are now carrying. Very sobering.

  8. Nicholas Folkes says:

    Interesting the above debt graph. As usual the 'red' represents Labor's fiscal mismanagement. The Pinko Fabians are Reds after all.

  9. Boy people are going to be sorry if these economic bunglers get a second term.

  10. OZPatriot says:

    Typical of a Liebor government.
    Populist policy at the expense of the populace!!

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