Fix federal government debt
Federal govt debt is out of control - now $518 billion.
(Debt was "only" $54 billion on 3 Dec 2007.)
Rudd ALP govt debt: $117b (33 months)
Gillard ALP govt debt: $104b (36 months)
Abbott LNP govt debt: $113b (24 months)
Turnbull LNP govt debt: $129b (30 months)
The ALP & LNP are the deficit twins.
They fail the most basic task of management: Unwilling to live within their means.
They spend money they don't have (to buy votes) by borrowing more & more debt, creating a gigantic mess for someone else to fix!
Too much debt, always ends badly.
The federal government's debt portfolio is managed by the Australian Office of Financial Management.
The debt number is updated every Friday afternoon: www.aofm.gov.au
(The Howard LNP govt left $54b debt when removed from office - Dec 2007).
Debt was $54.2b when Rudd became PM (3 Dec 2007).
Debt was $147.7b when Gillard became PM (24 Jun 2010).
Debt was $251.9b when Rudd became PM (27 Jun 2013).
Debt was $275.8b when Abbott became PM (18 Sep 2013).
Debt was $389.2b when Turnbull became PM (14 Sep 2015).
Debt now $518.6b.
ALP Rudd-Gillard govt debt: $221.6b in 69 months.
LNP Abbott-Turnbull govt debt: $242.8b in 54 months (so far).
Liberals - more debt (in less time) than Labor!
Liberals are worse than Labor!
We will cut waste, reduce spending & implement tax reform to repair the budget.