Thought $2.2 billion more debt this week was impressive?
The Labor party’s just getting started.
The AOFM has just announced next week’s Australian sovereign debt auctions.
A $600 million T-bond auction on Wednesday – to celebrate the myth-making record-deficit Budget Speech the night before, no doubt.
$1.2 billion (2 x $600 million) in T-note auctions on Thursday.
And another $600 million T-bond auction on Friday.
Labor’s $2.4 Billion Budget Spray.
How much more Interest-on-debt must we pay?
And how much will the “Estimates” and “Projections” for Interest-on-debt made in last year’s Budget be .. revised .. in this year’s Budget?
MYEFO 2010-11, Appendix B, Note 10: Interest Expense
According to their own “Estimate” just for this year 2010-11, we’re paying $1,201,712 ($1.2 million) per hour in Interest-on-debt.
Barnaby Is Right 
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