One of the headline points that Tony Abbott has been spruiking in recent times amongst the rabble that is our collection of elected representatives is how Labour are getting us so debt-ridden that our future is destroyed and we are all doomed.
I don't claim to have found this by myself but have lost the source. Wikipedia lists
countries by public debt. Basically countries at the top of the table owe
way more than they are able to pay off easily and hence are at strong risk of what we've seen happen to Greece (#8) and Iceland (#11) in recent times. Australia is one of the the lowest-ranked developed nations at #107 and hence a long long way away from the predicted Liberal debt doomsday. We are very slightly more likely to be swamped by debt than China, the world's manufacturing powerhouse.
Here's some selected entries from that table:
Rank | Country | % of GDP |
---|
1 | Zimbabwe | 304.30 |
2 | Japan | 192.10 |
6 | Singapore | 117.60 |
7 | Italy | 115.20 |
8 | Greece | 113.40 |
11 | Iceland | 95.10 |
18 | Germany | 77.20 |
22 | United Kingdom | 68.50 |
42 | United States | 52.90 |
61 | Switzerland | 43.50 |
90 | New Zealand | 29.30 |
107 | Australia | 18.60 |
108 | China | 18.20 |