LIKE most people, I try to fully repay my monthly credit card debt so that I don't have to pay a high rate of interest. Why then isn't something similar being done by our Federal government?
The opening paragraph of a lengthy comment by Jessica Irvine (economics writer with the Sydney Morning Herald), stated “these are the tax cuts we don't deserve and can't afford. They are not part of a wider tax reform package, leave the budget too vulnerable to future economic shocks, and they're unfair, to boot”.
I strongly believe that with a net national debt of $346 billion, and monthly interest payments of $1 billion, we should be repaying this huge debt, instead of having tax cuts.
It's also worth pointing out that Australians have the dubious honour of having the highest household debt in the world.
It makes you wonder, doesn't it?