crazycat
Well-known member
You don't get it at all.Australia is going downhill. This is not a Lib/Labor thing...Howard left the country with money in the bank in 2007 and in 18 years both parties have accumulated nearly a trillion dollars in debt. They reckon 50% of the country relies on tax money for payments so that starts at government workers down to welfare recipients. Totally unsustainable. Add the government overreach into our lives, high taxes and basically giving up all privacy and I don't hold out much hope. Apologies for the rant.
John Howard gave us 700K houses when at the start they were 200k.
Your Government debt is charged at Super LOW interest rates. 2% or less.
Your Private debt is charged at far FAR higher interest rates. 5% or more.
He shifted the debt, the loan from low to high interest, from gov to YOU and ME.