Another Week, Another $1.8Bn In Debt

3 May

The Rudd borrowed-money spendathon continues.

Already $138.5bn in the hole, this week alone the Australian Office of Financial Management (AOFM) reports that another $1.8bn in Commonwealth securities and Treasury notes will be auctioned off, to raise money for yet more wasteful spending.

Meanwhile, the interest rates that the government must offer to pay to attract buyers for our sovereign bonds continues to steadily rise.

From The Australian:

The government is facing a battle to keep costs under its self-imposed 2 per cent growth cap, with blowouts in some programs and higher interest payments adding to the deficit.

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One Response to “Another Week, Another $1.8Bn In Debt”

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  1. Another Week, Another $1.8Bn In Debt – Barnaby Is Right | World Estate site - May 4, 2010

    […] The Rudd borrowed-money spendathon continues. Already $138.5bn in the hole, this week alone the Australian Office of Financial Management (AOFM) reports that another $1.8bn in Commonwealth securities and Treasury notes will be auctioned off, to raise money for yet more wasteful spending. Meanwhile, the interest rates that the government must offer to pay to attract […] Read more about: Another Week, Another $1.8Bn In Debt – Barnaby Is Right […]

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