Monday, 2 April 2012

Australia- Reaping the results of 4 years of Labor financial mismanagement!

"The total Government debt will end up around $200 billion.
So here’s a very basic calculation .. I used a home loan calculator to work it out….. it’s that simple..
$200 billion is $2 hundred thousand million. The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here’s where it gets scary …. really scary. The repayments on $200 billion, come to more than one and a quarter billion dollars – every month – for 20 years. It works out we – as taxpayers – will be repaying $15.4 billion in interest and principal every year .. $733 for every man woman and child – every year. The total interest bill over the 20 years is – get this – $108 billion.

Remember, this is a Government, that just 4 years ago, had NO debt. NO debt."

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