AUSTRALIA’S NATIONAL DEBT IS A TICKING TIME BOMB!
Source The Daily Telegraph 12/2/2015/ Andrew Caswell- Price Waterhouse Cooper (PwC) – tax partner Paul Abbey said Australia was at grave risk of following the lead of debt-burdened European nations and getting in a situation where debt repayment was bordering on an impossibility. “What we’ve got right now is a situation where if we don’t arrest the fundamental difference between our actual outlays compared to our revenues, we will grow a very, very big debt stock surprisingly quickly,’’ he said.
“It’s a ticking time bomb and someone has hit the button and the clock is running” – Economist Clifford Bennett and –
“What we’ve got right now is a situation where if we don’t arrest the fundamental difference between our actual outlays compared to our revenues, we will grow a very, very big debt stock surprisingly quickly,’’ he said.
“One of the challenges for government, and you only need to look at countries around the Mediterranean, once governments build up a large debt stock it takes a long time, with a lot of adjustment and a lot of pain, to get out of it, because governments end up spending a large proportion of their revenue on debt servicing.
I have said many times “They ( Turnbull’s and Shorten’s lot) know not what to do and in fact Turnbull and his lot have turned away from turning deficits into surplus!
I know what has to be done to save Australia but I can’t do it alone. I need five hundred members to register my party “Australia New Era Party” under Australian Law. YOU HAVE THE POWER TO CHANGE AUSTRALIA’S DESTINY. JOIN MY PARTY NOW BEFORE IT IS TOO LATE! Cheers Ray.