'The government is going to borrow another $500 million today - t '

Unfortunately does take some time to reverse Labour/Greens total incompetence.

Poirot is lying again!

Every week the interest on Labor's debt is about $160m, but the majority of bond sales is to replace expiring bonds and to maintain the existing, not to generate new debt. Thus to say "The government is going to borrow another $500 million today " is a lie.

The interest on Labor's debt is about $8bn p.a.

Labor LIES - Quote "Julia Gillard conceding the welfare payment to the unemployed is too low."

She knew this when she was in office but DID NOTHING, now she does not have to worry about the economic consequences of raising it she admits it.

To me this is further proof she ruled to survive not for the people of Australia.

"The government is going to borrow another $500 million today " is a lie."

Spin away, SM.

Of course, I should have mentioned that Stephen Koukoulas tweeted that info (sorry if I give more credence to him that some anonymous "Shadow Minister" on a predominantly right-wing opinion forum).

Not as much detail as usual, ie. tenure and rate....but they are borrowing $500 million today, just as they borrowed $800 million yesterday.

$7.9 billion since the election.

Not lying - that's what they are doing.

Dear OTB,

I fully agree that "a little reactive and unthinking,
is something which we can all suffer from at times."

Dear Paul,

Thanks for the kind words.

Dear Poirot,

According to a Treasury Report in 2008 between 2004 and 2007
the mining boom and a robust economy added $334 billion in
windfall gains to the budget surplus. Of this, the then
Howard government spent or gave away in tax cuts $314 billion
or 94 per cent. Sale of businesses yielded another $72 billion.
And yet Australia's cash in the bank when Howard left office
was a pathetically low 7.3 per cent of GDP.

Even Bulgaria and Kazakhstan had better books in 2007 than
Australia yet the Coalition continues to declare,
"You can trust us with the economy. We ran things well
before."

It will be interesting to see how well and for how long
they can continue trying to sell this rhetoric to the Australian voters.

Here you go, SM.

http://www.afr.com/p/australia2-0/hockey_mulls_separate_debt_for_infrastructure_1ToqpT20wDt403WUjOiQxL

"Treasurer Joe Hockey is considering identifying government borrowings raised to fund infrastructure as separate from debt raised to cover the budget deficit as the Abbott government contemplates an infrastructure spending splurge."

"But the Coalition must first execute a stunning political about-face to explain why it may increase debt, and let the deficit increase, after years of attacking Labor over “debt and deficits”."

So Hockey is set to fiddle with the way government borrowings are "identified".

Why am I not surprised.