In the recent budget papers, the current government determined that the budget will be in deficit for as far into the future as it can see with little hope that that will reverse. Consequently, national gross debt is expected to rise to $1.22 Trillion (yep with a 'T') by 2028 which is a rise of over 35% from now. Net debt goes up by a similar amount. Remember that we were in the black at the end of the Howard period to the tune of $50Billion so quite a turn-around in the space of two decades.

So given we are in an election period, what have the two majors (or most of the minors for that matter) decided to advise the electorate they will do about the growing problem? Precisely nothing.

The ALP wants to spend $10billion to build some more houses. Where? No one knows. How they'll get the tradesmen and materials without disrupting current building projects no one knows. Where they get the land required infrastructure, no one knows. Hilariously they are saying they'll build them cheaper than the private sector could. This is in addition to the decision to give away part of the deposit for a house to people who otherwise couldn't met the prudential criteria. Another billion or so which could easily double in a downturn.

This is just the latest of the reckless spending of money we don't have. Remember the $2.4 billion plus to save Whyalla. A seeming daily dose of more spending hits the airwaves each morning.

Meanwhile, not to be outdone, the Libs, who claim to be better economic managers, have decided to just give an unstructured tax cut as some sort of once only offer. But worse, they've decided to give out a tax deduction for the interests costs on new houses which is estimated to cost $1.5Billion but too open-ended to tell. They've also made a myriad other promises that get up around the $30 billion mark.

Of course both sides have promised to spend around $10Billion to make health care freer!!

The nation is in good hands </sarc>

The nation is in good hands
mhaze,
We have to chose between the Left hand & the Right hand !

Unfortunately a vote for Dutton is a vote for a Mini-Me Trump, and lots of debt. As for debt when the Noalition came to power in 2013 the national debt stood at $257 billion, (16% of GDP) when they got booted in 2022 they had racked up a debt of $895 billion, (36% of GDP) and Australia had nothing to show for it. The Noalition had been raiding the national coffers and handing out money to their mates down at the Big End of Town like drunken sailors, example $12 million for the mega rich Gerry Harvey. Labor managed to deliver two surpluses in a row, something the Noalition couldn't deliver in almost 10 years in the job.

Old rusted on conservatives like the sycophantic Trumpster mhaze, like to prattle on about their folk hero Little Johnny Howard, as if he was some kind of economic messiah, the bloke was no such thing. Howard happened to be in office during relatively good economic times, if we're going to live in the past, then the combined debt of the Australian colonies in 1855 was about 3% of GDP, and they didn't even have income tax, economic messiahs! Unfortunately the first Australian Federal government in 1901 created a national debt of 100% of GDP, or about $3 trillion in todays terms, economic wreckers!

Governments do not build houses; private enterprise builds houses. And, despite the billions the government is promising, builders are going broke because of government taxes, regulations, and interference by government.

In the meantime, Peter Dutton seems determined to lose the election with his gutlessness and back downs; and erstwhile Coalition supporters are moving to actually conservative, minor parties.

The polls are absolute crap, as is the mainstream media. They both have Labor swanning back into power - just like the US polls had a cackling madwoman winning, but Donald Trump got in with a landslide.

Something similar could occur here. We won't know until the votes are counted. All speculation is utter bullcrap.

The bitter old man is crying in his beer as usual, its all crap. Australians will make their choice as they always have, based on Australia's needs. Unlike the Un-Australian Trumpsters who want some kind of Trump America style of society for Australia. Imagine our country run by that pair of crazies, Pauline Hanson and Clive Palmer.