Sky News Australia published this video item, entitled “There is a ‘burgeoning’ problem in Australia” – below is their description.
Sky News host Paul Murray says there is a burgeoning problem in Australia, and that problem is debt. “I’ve had to bite my tongue hard as conservative governments have fired the cash cannon to try to keep our economy going in a time when demand for our economy has become completely shut off,” Mr Murray said. “Firstly by international borders and secondly by the stupidity of some of the state and territory border decisions. But now we are getting the bill.” Mr Murray pointed to statistics compiled by Shane Wright, which revealed current government debts figures. The figures revealed that in this financial year alone (2020-2021), the federal debt is $703.2 billion. “Theoretically our capacity to pay this debt is pretty good,” Mr Murray said. “But we’ve got to remember, this credit card bill … is what we owe if nothing else bad happens. “The numbers keep going up.” Mr Murray said the problem with government debt is that “as long as the ATM’s still work, as long as people are still in jobs, as long as the welfare cheques are still getting payed and as long as the lights stay on, no one is going to care”. “I’m not pretending that we’re about to become grease tomorrow,” he said. “But we need to understand that one of the consequences particularly of how the state’s mismanaged coronavirus – or rather overreacted – means that we owe the rest of the world a trillion dollars this year, next year, the year after.”
Sky News Australia YouTube Channel
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