The sums we are talking about are so mind-blowing — $621 billion in government spending this year — that shaken citizens have ignored the barking fiscal watchdogs and the caravan has moved on.
But taxpayers befuddled by millions, billions and trillions should understand that what is taking place is a massive rip-off of future generations, who will be handed the bill for today’s consumption.
The cost of servicing that debt is as low as it has ever been and the government touts a management strategy that locks into low rates by issuing more long-term debt.
But that doesn’t mean taxpayers aren’t obliged to pay it off; it just means they will never stop paying it off.
How can a journalist fail to mention that there is zero opposition from the Opposition? Seriously.
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