Tag Archives: interest expenses

Another $4.9 Billion In Usury Expenses, $300 Billion Debt Ceiling Hit This Year

2 Aug

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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)

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)

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)

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.

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