$1 billion dollars a week. That is what the LNP have been “borrowing” every week since they were elected in September 2013. At this rate, by September 2016 they will have “borrowed” in excess of $150 billion taking the national “debt” from $284 billion to $434 billion plus.
There’s a reason why the words, ‘borrowing’ and ‘debt’ are in inverted comas above. In reality, it isn’t debt at all and it is not borrowing and I can only guess how much Joe Hockey would like to say that publicly. In reality, it is the total amount of Commonwealth Government Securities on issue that have been purchased by various institutions and individuals, in Australian dollars, held here and around the world.
Read more at: The Australian Independent Media Network