Nice pay rise for her
Remember, this is a Government, that just 18 months ago, had NO debt . NO debt.
In fact it had enough money to create the Future Fund, to pay the future liabilities of public servants’ superannuation..
... and it had enough to stick $20 billion into the Building Australia Fund last year ...
200 billion is $200,000 million.
The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years.
Now here’s where it gets scary ... really scary.
The repayments on $200 billion, come to more than one and a quarter billion dollars - every month - for 20 years. It works out we - as taxpayers - will be repaying $15.4 billion in interest and principal every year ... $733 for every man woman and child - every year.
The total interest bill over the 20 years is - get this - $108 billion.
