Sadly, A $1 Trillion Debt hurts the younger generation.

by Kel Davis

EDUCATION: What was spent from 2008 and 2020 onwards will hurt the younger people.

Spending has not stopped in 2023, instead sadly it has ramped up by both state and federal governments.

What I have warned about, the $1 trillion debt in Australia right now, will be felt for many, many years. Taxes must increase just to cover the extra 30 billion interest payments from 11 months of rate rises. (No mention about paying back the capital). Central banks control the rates, not governments!!!
With interest rates rising this will be a significant impact for decades to come…. Anyone in their 20’s -30’s need to understand what you have inherited from these new policies.

This problem is explained so well in this video by peter Castello, the last treasurer that paid back all government debt leaving – now understand this part- … “no debts for the next generation.” It was actually a surplus, savings left for them called the future fund.

John Anderson published this on Youtube, and I am grateful however it is likely to be removed again as it shows the truth, contravening publishing rules. Preserved here for John.

In my words: Our gift to the next generation was ‘NO Carry forward debt!” We lived within our means, paying all our bills from our normal taxes. I was part of that generation that did NOT create a burden for the next.

Sadly, that gift has just been squandered by successive government decisions, both state and federal. Sadly, Australians have simply voted for this debt to occur and now it grows.

The difference now is that the 20-30’s year olds now face in their working lifetimes a debt that they never pay back. It does not really affect me personally at this time, (as already retired), but at some point, it will hurt the general working population of Australia.

The only other option available is to “devalue the currency “through inflationary strategies. Sadly, I expect this is where we are all headed. (Called modern monetary theory MMT)

So sad to watch this all unfold.