Australia is broke, the govts that is.
As you can see here compared to other countries our debt and defecit isn't all that high, and in a time of low to negative growth, such as we have experienced since 2008, it is hard, and arguably detrimental to the economy, to avoid such a circumstance.
but taxes must go up, spending must go down, especially on overgenerous welfare
According to the Treasury we are one of the lowest taxing nations in the OECD and we have the most targeted welfare systems. This means we are getting the money to the people who need it most.
Can't agree ... if Labor some how gets in, it will be batten down the hatches & hold on for a very rough ride.
Unlike the ridiculous handling of the economy that is going on now hey?
Really interesting part will be who will control the senate ? ALA ? That new seniors party ? Who ?
Oh this explains everything, you are a
racist boomer. I will enjoy when your head implodes when we have an ALP government and a senate controlled by the Greens, Xenephon and other cross benchers and everything is fine.