Labor’s Debt: $3,500 Per Person

25 Jun

From the Federal Liberal Party’s Friday Facts –

Despite inheriting a $20 billion surplus, zero net debt and $60 billion in the Future Fund, Labor is delivering:

  • $78.5 billion of net debt in 2010-11 – $3,500 per person
  • $4.6 billion of interest paid on net debt in 2010-11 – $205 for every Australian (and as the graph below shows, it will get worse)
  • A Budget deficit of $40.8 billion in 2010-11 (the biggest deficit since World War II)
  • To fund its reckless and wasteful spending, Labor needs to borrow more than $100 million every day.

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One Response to “Labor’s Debt: $3,500 Per Person”

  1. John Comnenus June 29, 2010 at 5:04 pm #

    That’s ALP Federal debt. Look at QLD and NSW and VIC debt and it adds up to even more. from memory QLD is the worst.

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