4 February 2010
Labor’s Debt out of Control
The capacity for Australia to cover its own expenses and to be benevolent to others is determined by our capacity to manage our debt.
The Labor Party has lost control over Australia’s debt.
Mr Tanner provided a splendid example of this today when asked to provide details of the amount of the stimulus package that has been spent. The best he could get to, after prompting, was “it might be better than a half”.
On top of this, the Labor Party refuse to table the Henry Report which determines the capacity of the Australian Government to collect its revenue.
It is no wonder that the gross debt has exploded through $120 billion and continues on its path to a point which will put huge stress on the government’s ability to finance the remainder of its expenditure. It appears inevitable that this Labor Government will be like all other Labor Governments in that it is going to lead Australia to be in hock to its eyeballs.
Rhetorical superlatives and wondrous thoughts will not count for much when the people we owe this money to, start asking for it back.
You have to be ever so cautious when the money you spend is no longer your money. The Labor Party doesn’t seem to understand this principle.