Swan Admits Borrowing $100m-a-day

26 Jul

From the ABC:

Federal Treasurer Wayne Swan has conceded the Opposition is correct when it claims Labor is borrowing $100 million a day to pay back Government debt.

Of course, it takes only a few seconds to keep tabs on Labor’s borrowings.

Just visit the Australian Office of Financial Management (“AOFM”) website to see the current total borrowings – listed as $150.533 million presently.

Don’t forget to add to this total, the amount listed at each link under the “Recent Tender Results” title, on the right hand side of the page. These are the extra amounts borrowed last week, but not yet added to the total.  So that’s another $1,800 million in the past week, giving us a grand total of $152.133 million borrowed up till last weekend.

Then, to see how much the Government plans to borrow in the next week, click on the “Forthcoming tenders” link, also on the right hand side of the AOFM home page. As you can see, on Thursday and Friday this week, the Labor Government will borrow a total of another $1,000 million.

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