Spending Out of Control

The Financial Review today reported an imminent $120 billion debt due to irresponsible Government spending. “This equates to almost $5,000 for every man woman and child.” Current interest on debt already amounts to $100 million per day and is placing upward pressure on interest rates. A leading financial commentator said this morning, “This is madness of the first order. Common sense seems lost in a maniacal scramble for lost votes.” “These Politicians just don’t get it”, claimed Deloitte Access Economics. It's a taxing problem.