“$35 Million A Day” Usury-On-Debt: Sloppy Joe Hockey Finally Gets It Right

22 May

Congratulations Joe Hockey!

At long last, in his budget reply speech at the Press Club today, “Sloppy Joe” finally got around to correctly stating the cost to taxpayers of Usury (interest) on the Federal Government debt:

Screen shot 2013-05-14 at 7.50.25 PM

Though he still chose to use the lowest of those budget forecast numbers – the $12.759 billion for the current financial year, ending June 30.

All the forecast numbers for the years “going forward” .. are higher.

Try about $36.7 million a day Joe.

Or, be even more accurate, by taking the “Total interest expense” figure, which includes (projected) “other financing costs”.

The total usury expense is forecast (!!) to be more like $39 million a day.

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4 Responses to ““$35 Million A Day” Usury-On-Debt: Sloppy Joe Hockey Finally Gets It Right”

  1. bushbunny May 22, 2013 at 2:22 pm #

    That’s over 1.5 million per day per capita? Leaves living on $35 per day on the dole look sick!

  2. mick May 22, 2013 at 3:26 pm #

    Whose figures? Be careful using “estimates” and politicians’ figures.

    • The Blissful Ignoramus May 22, 2013 at 4:20 pm #

      Indeed. T’would be a fair bet that the actual numbers will end up being worse.

  3. mick May 23, 2013 at 9:28 am #

    I gave up reading half way through. This might be a great text in a court case but who in going to read something the size of War and Peace.

    I do recall that Turnbull was spouting that BANKS should half of the family home. As if banks are not wealthy enough. And in the end the mortgage repayments would have more than likely ended up just as much. You only have to look at what happened when the second income started…..housing prices went up because suckers could afford more.

    We now need to look at Turnbull in his role as the shadow communications minister. What he is proposing for the NBN (now that he is not going to can it) will be just as costly for households who will be paying many thousands of dollars to get the fibre optic INTO THEIR HOMES FROM THE STREET. And God knows what else Turnbull has in mind to make the whole NBN concept a lemon. This is the business representative who will kill the golden goose for both the public and eventually dumb Australian business.

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