'Debt Free Day'

[bambu.]

On this day in 2006, Australia (Fed govt) became totally debt free, owed no money to anyone.
A Conervative govt did it over the preceding decade...as well as setting up a 'Future Fund' in which to put money for the benefit of Australians going forward.
Then in 2007, at the election, a left/far left Labor govt promising even more success and prosperity was elected.
Exactly the opposite happened...and spend, spend, spend became the way.
The $22billion in credit in the nation's bank account soon disappeared ...replaced by a debit balance.
The national debt is today, 20 years later, almost 1 Trillion dollars.
One thousand billion dollars.
The Conservative Treasurer of 20 years ago, and the decade prior...the architect of the credit balance ... was interviewed on my tv tonite. He's devastated that all his and his govt's good and hard work to get the nation into credit was basically all for nothing.

 

[Harry Dresden]

On this day in 2006, Australia (Fed govt) became totally debt free, owed no money to anyone.
A Conervative govt did it over the preceding decade...as well as setting up a 'Future Fund' in which to put money for the benefit of Australians going forward.
Then in 2007, at the election, a left/far left Labor govt promising even more success and prosperity was elected.
Exactly the opposite happened...and spend, spend, spend became the way.
The $22billion in credit in the nation's bank account soon disappeared ...replaced by a debit balance.
The national debt is today, 20 years later, almost 1 Trillion dollars.
One thousand billion dollars.
The Conservative Treasurer of 20 years ago, and the decade prior...the architect of the credit balance ... was interviewed on my tv tonite. He's devastated that all his and his govt's good and hard work to get the nation into credit was basically all for nothing.

no names?...

 

[gtopa1]

no names?...

Yeah; Wonderful Peter Costello and John Howard...the good guys...and fuckwits Rudd and Albanese.

Greg

 

[gtopa1]

On this day in 2006, Australia (Fed govt) became totally debt free, owed no money to anyone.
A Conervative govt did it over the preceding decade...as well as setting up a 'Future Fund' in which to put money for the benefit of Australians going forward.
Then in 2007, at the election, a left/far left Labor govt promising even more success and prosperity was elected.
Exactly the opposite happened...and spend, spend, spend became the way.
The $22billion in credit in the nation's bank account soon disappeared ...replaced by a debit balance.
The national debt is today, 20 years later, almost 1 Trillion dollars.
One thousand billion dollars.
The Conservative Treasurer of 20 years ago, and the decade prior...the architect of the credit balance ... was interviewed on my tv tonite. He's devastated that all his and his govt's good and hard work to get the nation into credit was basically all for nothing.

Put in a link old buddy!!!

Greg

 

[1srelluc]

AU made it's last Lend-Lease payment to the US in 2006 but that was the AU just calling it good....They still owed (still owe) the US over a Billion.

That seems like mere chump change now but they had never really been debt free.

 

[Harry Dresden]

Yeah; Wonderful Peter Costello and John Howard...the good guys...and f^gwits Rudd and Albanese.

Greg

so why the fake news for asking a legit question?..

 

[bambu.]

no names?...

Liberal(Conservatives) Prime Minister John Howard, and Treasuruer Peter Costello.
They also introduced "The Pacific Solution" policy that eventually stopped the people smuggling boats arriving from the Middle East/Nth Asia via Indonesia. The immigrants who paid people smugglers then sent to the Pacific Island nation of Nauru for detention, instead of being settled in Australia as previously.
'Settled' including getting on the welfare express.
Some say "jumping the queue".
The 'queue' being refugees in UN camps waiting for re-settlement.

An orderly and affordable refugee/immigration system, instead of a very costly one basically run by people smugglers.
Treasurer Peter Costello on tv last night demonstrated very clearly why he's about the best Treasurer the nation has ever had.

 

[bambu.]

Put in a link old buddy!!!

Greg

​

Sky News:​

​

On the 20-year anniversary of his announcement Australia was debt-free, former treasurer Peter Costello has urged the Albanese government to restrict its spending or risk making the future even harder for young Australians.​

Former treasurer Peter Costello has lamented the astronomical rise in Australia’s net national debt on the 20-year anniversary of his announcement that Australia was debt-free, urging the Albanese government to restrict its spending.
Mr Costello, who served in the Howard government, said the public debt of nearly $1 trillion has left young Australians in a “significantly worse” financial position.

Speaking to Sky News host Peta Credlin, Mr Costello said it was “heartbreaking” to see his hard work so catastrophically undone by successive governments.

On April 21, 2006, the former treasurer paid off the final $96 billion in public debt on what has since been dubbed “Debt Free Day”.

 

[Captain Caveman]

On this day in 2006, Australia (Fed govt) became totally debt free, owed no money to anyone.
A Conervative govt did it over the preceding decade...as well as setting up a 'Future Fund' in which to put money for the benefit of Australians going forward.
Then in 2007, at the election, a left/far left Labor govt promising even more success and prosperity was elected.
Exactly the opposite happened...and spend, spend, spend became the way.
The $22billion in credit in the nation's bank account soon disappeared ...replaced by a debit balance.
The national debt is today, 20 years later, almost 1 Trillion dollars.
One thousand billion dollars.
The Conservative Treasurer of 20 years ago, and the decade prior...the architect of the credit balance ... was interviewed on my tv tonite. He's devastated that all his and his govt's good and hard work to get the nation into credit was basically all for nothing.

Same with the UK, Blair and Brown entered government with near balance books and proceeded to spend like mad. And it's been downhill ever since at nearly £3trillion. Everything Left parties touch turns to shit.