In 2006, the federal government had $45 billion in net assets (4% of GDP). Today, it has a cataclysmic $400 billion debt on the books, which is budgeted to grow to $480 billion within the next four years.
The hunt for where our money went continues here in Part 2:
The hunt for where our money went continues here in Part 3:
Emily Moulton of news.com.au asks whether WA squandered its ‘mining riches’:
IT HAS been billed as a once in lifetime boom, one that brought unprecedented riches to the ‘wild west’. But what has Western Australia actually got to show for the mining boom?
For many years, WA was long been regarded as the poor, long-distance cousin, the one you saw at family get-togethers but never really paid much attention to.
Aside from demonstrating her sheer ignorance to a whole state of people and the contribution they have made to our country (17% of national GDP in 2013-14), Continue reading “At Least WA Has Something to Show for it’s Debt”
After years and billions of dollars wasted, Obama finally admits he has botched things in Syria:
It wouldn’t be like the IPCC and the UN to overstate the impact of carbon dioxide on the climate, would it? It’s not like they have 100 billion reasons to do so do they?
Two weeks ago, Julie Bishop signed Australia up to the UN’s ‘Sustainable Development Goals’. Within that was Goal 13, Target 4: (
The shameless climate change scare campaign continues. Now it’s the wicked people of Western Australia that are going to fry. You would think this is a simple story warning people about the upcoming bushfire season. Pfft:
Ove Guldberg of the University of Queensland is at it yet again in predicting doom for the Barrier Reef. This time it’s a mass bleaching that will apparently hit the reef in 2016.
Scaffidi digs a deeper hole and attempts Julia Gillard’s ‘young and naive’ defence:
A defiant Ms Scaffidi was last night digging in, rejecting the CCC’s finding she had “signally failed in her duties as lord mayor” and blaming her actions on inexperience and advice from others.