sonofgloin said;
we right now have a record govt debt of nearly 200 billion

Is that $200billion additional to the approx $240 billion outstanding bonds ?
I think it probably is additional.
Someone here had a go at Barnaby Joyce, but if fact Barnaby was right !
As he pointed out those bonds have to be repaid so they are a debt.
Wayne Swan tried to make fun of Barnaby saying he had it wrong.
In fact he had it right because those bonds are a debt.
If any of you have Australian Govt bonds do you expect to be repaid ?
So it is a debt, and has to be added to other govt debt.

I'll give you some assistance for future reference, sonofgloin… "There is a difference between billion and trillion, the difference is a load of zero’s…"

The difference is in fact three zeros.

And unless you meant strictly in dollar terms, you should prepare to be called to account about "Belly it is not my fault we have the highest GOVERNMENT DEBT since federation."

One of the more useful comparators is 'Australian government net debt to GDP'.

Bugs and Pericles, sorry guys I stand corrected....the debt per individual is $10K.....not 90K.

PS.

B and P, I also GENUINELY appologize for the smart arse comments about your calculaations, I was on a roll with a delusional calculation and I let my fingers do the typing rather than my brain...SOG

PPS.

I forgot to apologize to my china Belly.....so apologies on this one Belly.

Disregarding the $9.1K and the $91K blunder I found another. I calculated that we were in credit to the tune of 93 cents with Howards 20 billion surplus, but the figure is $930, so folks the premise still stands.

We still have the most indebted Commonwealth government in history. Given that each and every one of us owe $9.1K, a record. What did we get for our $9K?

The stimulus packages were haphazardly administrated leaving them open to corruption and overcharging.

Home units charged for 16 insulations when none were carried out, boys that died in sweltering roofs and the 200 house fires and accompanying deaths, an issue that needed further hundreds of millions spent on inspections and rectification.

Then there came the BER, and other education revolutions.
>> $23,044 in "landscaping fees" for 17 pot plants and four square metres of turf -- and substandard construction, in submissions to the NSW parliamentary inquiry into the BER. Building costs at 10 schools have blown out by identical amounts totaling $4.5 million after the price of modular libraries soared from $850,000 to $1.3m.< The Australian
– Christopher Pyne The New South Wales Government needs to hold a judicial inquiry into the school hall programme after reports that only 64 per cent of funding allocated to government schools was spent on building costs with the rest absorbed by management fees and other costs.
– Christopher Pyne MP The Auditor-General has found Labor’s literacy and numeracy national partnership has produced no improvement in student outcomes despite $540 million in payments over the last four years.
TAXPAYERS have spent $11.7 million sprucing up 33 schools that were shut down after being given federal grants for new buildings and renovations.
TBC