You can read all about the $33 billion budget black hole elsewhere.
Here, we are interested in the interest bill.
In less than 3 months since the May budget, the “Total Interest Expense” bill has blown out by another $4.9 billion “over the forward estimates”.
Compare, if you please.
May Budget:
Budget 2013-14, Budget Paper No. 1, Statement No. 9, Note 10 (click to enlarge)
August Economic Statement:
August Economic Statement, Table A1, page 48 (click to enlarge)
Yes, we are now talking about $15 – $16 billion every year, in Interest expenses.
That’s before any of the debt principal starts getting repaid.
Our present $300 billion debt ceiling?
Forecast to be hit in December this year … and blowing through $350 billion in April 2015, then $370 billion in April 2016:
August Economic Statement, Table 11, page 46 (click to enlarge)
And we know how reliable Treasury “forecasts” and “projections” are.
Don’t blame the government.
They’re victims, just like the rest of us.
Self-serving, conniving, complicit victims, yes.
But victims, nonetheless.
Our economic problems are not the politicians’ fault.
They’re OUR fault.
Because we all continue to go along with a fundamentally corrupt, parasitic “money” system.
UPDATE:
$15 billion a year in interest costs, is $1,285.53 per employed person (ABS: 6202.0 – Labour Force, June 2013).
Just so you know how much extra tax you will be paying, because our politicians are too under-the-thumb of the international bankster class to reclaim our national sovereignty, and simply order Treasury to “print” the money we need, interest-free.
Barnaby Is Right 
http://realcurrencies.wordpress.com/2013/08/02/ten-atrocities-that-would-not-exist-without-usury/
“…and simply order Treasury to “print” the money we need, interest-free.”
A few US presidents tried that and copped a bullet in the head.
No hero’s in our political crop!
A solution?….. I have no idea as Gentiles only stick together when at the bottom of the barrel…. we’re not quite there yet.
The Jews do stick together and have an incredible world wide communication system that belies their 0.2% population. (Answers 2010)
This allows absolute control of the monetary systems throughout the globe via booms and busts etc.
“Destroy the fiction that gold has value, and you leave the Jewish International Financiers sitting forlorn on heaps of useless metal.” – Jewish Testimony in Favor of Bolshevism (The Dearborn Independent, Issue of October 2, 1920)
Could this be done?…… Gus
This may be of interest Gus –
http://removingtheshackles.blogspot.com.au/2013/08/looky-looky-what-hsbc-owns.html
I’m struggling under the weight of all this info.
As I see it so far.
According to Joseph Farrell in his book “Babylon’s Bankster’s” it seems that it was gold that was malevolently introduced as the wealth exchange some six thousand years ago in Egypt and created usury
Today usury is still with us in a far more sinister cloak and, it seems, that gold is still the conductor of this satanic opera called usury.
I have recently found a list of who and what the vatican owns/controls and it places the banking families under the control of the Vatican….. I had thought that they were the top guns!
I’m in need of a cuppa, a Bex and a good lie down!…. cheers…Gus
http://gold-silver.us/forum/showthread.php?61439-Kol-Nidre-Never-Trust-A-Jew
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7th Sep. Election, 14th Sep. Kol Nidre
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“Democracy is also a form of worship. It is the worship of Jackals by Jackasses. It is the theory that the common people know what they want, and deserve to get it good and hard.”
H.L. Mencken
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“The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.”
H. L. Mencken
Permit me to agree wholeheartedly agree and to repeat a statement made by James Dines in an interview with Eric King on 29th Oct, 2011.For anyone interested, here’s the link.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/10/29_James_Dines.html
“Currencies are the lifeblood of the system. If the currencies are corrupt, then everything that currency touches becomes corrupted also.”
His analysis sure does explain a great deal of what we are seeing unravel.
Whilst I have am growing tired of denial of the obvious and over the top conspiracy theories this post is spot on.
We get the government we all truly deserve and should all rejoice in the pain we endure because we elect the bastards…..and I am talking about both sides of politics.
The money printing system we have is not likely to disappear any time soon whilst those with real power control it and whilst there is no viable alternative other than from idealists and academics, which fail the test of practicability and workability. So we have what we have. This system has worked for hundreds of years and will continue to function as long as those who control it do not permit distortions like the current money printing feeding frenzy. But we have to realise that the casino always wins.
We should all remember that the interest bill can be a closed loop if governments did not borrow internationally and/or spend beyond their means. Borrowed money would then involve private and business lending. Both would contribute to the profits of banks and shareholders would see a return on their investments via dividends. In this respect owning bank shares is no different to any other investment. Of course those with the most invested (the rich) get the lion’s share so the real game is to make sure that the rich pay their fair share in taxes. It is here where a dumb population fails to realise that it is being done over. The best example of this has arisen in the past few days where the Business Council of Australia (BCA) has called for a lower corporate tax rate, an increase in the GST and taxes on the family home. Effectively more money for its rich CEOs is being funded by……you guessed it: you and I.
As I have stated on many occasions STOP VOTING LABOR AND LIBERAL because this is where the rot begins. But don’t expect the population to ever understand how to kill the game for the bastards. The sheep are not too difficult to control.
I thought you said last night that this was your last post on this site?
“whilst there is no viable alternative other than from idealists and academics, which fail the test of practicability and workability.”
Mick, you have been invited — on MULTIPLE occasions — to detail your criticisms of this blogger’s suggested alternative. You have continually failed to make any attempt to do so.
Mixing approval of this post with sledging of the host does not conceal the fact that you are trolling.
One more comment from you that complains about the content of this site, or sledges the ideas of the host without offering ANY intelligent and constructive criticism of those ideas, and it will not be a case of your telling us “this is my last post on this site” and reneging within hours because you just can’t help yourself — rather, you will be banned.
I’ve been under the impression that our woes were mostly due to mindless Labor profligacy,as I’ve lived through the Menzies, Whitlam, Fraser,Hawke and Keating years and then the Howard years. I know which I’ll ALWAYS prefer!
Yay for Little Johhny!
Kevin Rudd is apparently a follower of the philosophy of Karl Marx.
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http://www.crossroad.to/articles2/forcing-change/010/11-socialist-international.htm
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“World government and world socialism. Those are the explicit goals of the Socialist International (SI), one of the planet’s most influential organizations, but one that is virtually unknown to the vast majority of Americans, since it is rarely mentioned in the major U.S. media………..
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Prominent Socialist International member parties include:
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• Britain’s Labour Party (Gordon Brown, Prime Minister),
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• Australia’s Labour Party (Kevin Rudd, Prime Minister),
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• South Africa’s African National Congress (Jacob Zuma, President),
• Spain’s Socialist Workers’ Party (Jose Zapatero, President),
• Nicaragua’s Sandinista Liberation Front (Daniel Ortega, President),
• Namibia’s South West Africa People’s Organization (Hifikepunye Lucas Pohamba, President),
• Chile’s Socialist Party (Michelle Bachelet, President), and
• Egypt’s National Democratic Party (Hosni Mubarak, President).
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These and other SI member parties and their leaders have been fairly open in their calls for “global governance” to address what they claim are “global crises” that cannot be addressed (they say) in the current system of sovereign nation states. As The New American has reported, Prime Ministers Gordon Brown and Kevin Rudd have been especially outspoken, with hysterical pronouncements on the supposed need for UN governance to stave off supposed catastrophic global warming……………..”
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So then Bible carrying hypocrite and Socialist International member Kevin Rudd would go along with the following –
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International Socialist Review Issue 32, November–December 2003
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Marx’s theory of economic crisis
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http://isreview.org/issues/32/crisis_theory.shtml
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The importance of crisis theory
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“…..Understanding the drive toward crisis is central to Marx’s analysis of capitalism and to his arguments for the possibility and necessity of revolutionary change. For Marx, the existence of inequality or poverty alone is not what turns workers against the capitalist system. These problems have always been a part of the everyday workings of any “healthy” capitalist economy. Of greater social and ideological impact is the insecurity, instability and ruin that economic crises periodically inflict on the lives of working-class people. And so in Capital, Marx argues that capitalism
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dispels all fixity and security in the situation of the laborer…it constantly threatens…to snatch from his hands his means of subsistence, and…make him superfluous. We have seen… how this [class] antagonism vents its rage…in the incessant human sacrifices from among the working class, in the most reckless squandering of labor power and in the devastation caused by a social anarchy which turns every economic progress into a social calamity.
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In short, crises mean that the very functioning of the capitalist system cannot guarantee even the crumbs that are thrown to the worker……”
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Matthew 20:26 ” He who would be greatest among you, let him be the servant of all”.