costello

Thank you for the half a trillion debt

Great news everyone:

On Tuesday, gross Commonwealth debt reached more than $499 billion, after growing by more than $2 billion since Friday and $9 billion since early May.

You guys didn’t have to. I mean it, you really didn’t have to. But thanks anyway for saddling our country with a half a trillion – that’s five hundred billion – dollars’worth of debt and growing (expected to hit almost $600 billion in three years’ time), and the budget with some $16 billion per year in interest repayments; money which could be so much better spent on just about anything. Man, I would even give it to arts, instead of seeing it pissed against the wall like that.

You just couldn’t help yourself, could you? So thank you to Rudd and Gillard and Rudd again and the Labor Party for giving us the first $250 billion, and thank you to Abbott and Turnbull and the Coalition for giving us the second $250 billion. It took Labor 6 years to get its quarter of a trillion, but it took the Liberals and the Nationals only 4 to get their quarter.

I’m old enough to remember when Australia was debt free and with a money surplus. Actually, you don’t have to be old enough, it was only ten years ago, in 2007. It took ten years to turn Australia from a world leader into just another social democratic borrow-and-spend-and-consequences-be-damned sad case. So thank you Labor for doing what you always do when in government, but thank you to the Coalition for giving up. No one will see Australia debt free ever again.

And, of course, thank you to all the Greens and cross-bench Senators for strenuously blocking any spending cuts to anything. We owe you a debt, but it’s not of gratitude, you bunch of mindless, cowardly, rent-seeking economic illiterates and vandals.

I would have more respect for you all if you have increased taxes instead. I don’t like the taxes going up, but at least that’s an honest way to pay your way through life and not spend more than you earn if you (and everyone else) insists on more rather than less government expenditure. But putting all the recurrent spending, the cash-splashes, and the “investment” with nothing to show for it on one big credit card, so that the voters don’t feel any pain today and who gives a shit about the future generations of taxpayers – well, that’s a really shitty thing to do.

Hope you’re all proud and feel warm inside about how compassionate, generous and giving you are – not even with someone else’s (taxpayers’) money, as you generally are, but this time with the money we don’t even have. Well done.

(The main pic: Christ only knows what Peter Costello must be thinking now, but I’m sure it’s unprintable.)

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