Australia's worst Prime Minister poll!

Deal with it

 

I am no economist, so would appreciate some insght..
If the federal govt has a surplus at $22b, why are the economy going down or major projects being pulled?

 

The budget surplus is short term, the Commonwealth debt is long term.

From the Govt website (note they don't have June 23 numbers up yet):

The Budget projects that the Commonwealth government’s gross debt will be around $963 billion at 30 June 2022. This is around 45.1% of GDP. It is projected to increase to $1,199 billion—around 50% of GDP—by 30 June 2025 (Budget Strategy and Outlook: Budget Paper No.1: 2021–2022, Table 11.5,
p. 366–7).

Interest payments on commonwealth government debt will cost the federal budget $112bn over five years, or $60m a day.

 

say what..?

So the summary is,
The country can just pay ‘mortgage’ interest this year without paying increase of the principal loan amount ?

 

I think the summary is………….the Country is ****ed!

 

Imagine how ****ed we’d be without mining, coal, gas, etc.

 

World’s Quarry.

 

The copper is slowly running out where I work.

They are taking end of mine life in 7 years or less.

We used to pull 6 million tonnes of dirt out of the ground, now we are only doing around 1.2 million tonnes and slowly winding down.

It will see me out, but it’s the end of the road for this dump unfortunately.

 

That’s a shame to hear, but overall this country is so rich in minerals it’s not funny.

The ONLY reason there is a surplus is because of what we pull out of the ground, which is hilariously ironic given Labor will claim it’s due to their economic management while at the same time they and the Greens do everything they can to destroy it.

 

For a change they are doing what I expected the LIBs to do

Thanks to Morrison we are ****ed for decades, trillion dollar debt , irresponsible ****

 

Obviously I'm still alive

They were debating open heart surgery but have gone back to stents and crossed fingers .... my favourite strategy

 

Let’s have a drink to celebrate!


Sent from my iPhone using FerrariChat

 

We used to be called the lucky Country.

Not so much anymore I reckon.

 

Good news John.

 

Still rather live here than anywhere I've been Pap.

 

I did like London while I was there for a couple of years but was so nice to come home

The US is ok but I hate not being able to yell at dickhead drivers (for the obvious reason)

Asia, no thanks

Europe, no thanks

South America, NO thanks

Canada, I could do it but they need better beer

Africa , HELL NO

India, are you joking

Chinah, nice people terrible govt

Russia, I'll wait until they annex Ukraine, then HELL NO

NZ, is it snow season ??

 

Yet Labor and their supporters wanted him to spend MORE at the time.

Short memories on the left as usual.

 

Canada, but too cold most of the year. They don't do a bad IPA.

NZ, for 3 months of the year, definitely.

 

I'm no leftie but I can lean left when I feel like it and I never wanted him to spend a trillion

 

Yes, it was a rort .......... QANTAS ?
etc

 

It was pretty badly handled in some respects, for sure.

Paying lazy millennials more money to sit at home and play PlayStation instead of going in to work comes to mind.

But it would have been a lot worse if Labor and the Greens had their hands on the purse strings at the time.

 

That's for sure.