Friday On My Mind – Another $700m In Debt

27 Apr

While most everyone else is obsessing about this Friday’s royal wedding, I’m thinking about another kind of “marriage” contract.

Til Debt Do Us Part.

You see, $189.84 Billion in debt is not a big enough ball-and-chain for the Goose.  Come this Friday, he’s signing us up to another $700 Million in the red contract.

Noone with two brain cells to rub together could still believe this government’s line that they will produce a surplus budget for the year (just 1 year, mind) in 2012-13.  Their ongoing dalliance with debt is all the evidence needed.  They are addicts, who will never go a single year without borrowing-and-spending far more than they take from us in taxes.

The simple fact is, we’ll all be paying for Goose’s indiscretions.  For decades to come.  Our creditors must be paid.

So tell us Wayne … who’s buying now?  Who Really Owns 73% Of Our Debt?

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2 Responses to “Friday On My Mind – Another $700m In Debt”

  1. Daryl April 27, 2011 at 9:31 pm #

    Barnaby, the problem is not really the amount of debt – although this of course is always a concern.

    The real problem is the debt based money system and fractional reserve banking.

    The 700 million should never have been money our government needed to burrow.

    The judiciary and the legislature are seperated and seem to work pretty well. Why can’t the government issue money instead of the RBA printing money and then charging our government interest on this money.

    Taxes could be incomparably lower if large sums of tax revenue were not being used to pay the interest on debt to the RBA…or other overseas party when the RBA onsells Aussie bonds

    • The Blissful Ignoramus April 27, 2011 at 9:49 pm #

      “The real problem is the debt based money system and fractional reserve banking… Why can’t the government issue money instead of the RBA…”

      Agreed Daryl. See also “RBA Robs Us By Stealth” for more.

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