Australia
Mathias Cormann
(lib)
: @TheKouk Btw before last election Gillard promised net debt wld peak below $90b (were u her adviser then?). Now we're on track for $191b.
Mathias Cormann
(lib)
: @TheKouk Too many monkeys involved in Labor's calculations. That's why they're invariably wrong & Labor has to keep extending debt ceilings.
Mathias Cormann
(lib)
: @2FBS @TheKouk Its now heading for $400 billion. On current Labor forward estimates govt will have to lift debt ceiling again up from $300b!
Mathias Cormann
(lib)
: @TheKouk Yes & Labor keeps loading up our gross debt off budget. Debt ceiling under Labor went from $75b to $200b to $250b to $300b. Next?
Mathias Cormann
(lib)
: @TheKouk Btw your calculations grossly inaccurate. Gross debt includes items govt puts off budget. You need to look at headline balance.
Mathias Cormann
(lib)
: @TheKouk Surplus? Is that like the four years of surpluses Gillard & Swan promised this time last year? You're not serious right.
Mathias Cormann
(lib)
: @TheKouk At the end of Howard years net debt was $0 and we had money in the bank. Govt was collecting more than $1 billion in net interest.
Mathias Cormann
(lib)
: @TheKouk Now after 6 years of Labor mismanagement, they're planning to spend $33b over the period just on net interest to service their debt
Mathias Cormann
(lib)
: @TheKouk And where did I say that? You're making this up as you go along. With advice like yours no wonder Labor in a fiscal mess.
Mathias Cormann
(lib)
: @TheKouk Can you explain why you excluded more than $20 billion from your gross debt calculations? Is that what you did in Gillard's office?