Debt

On the medical research fund.

Quote “the $20b will be counted as an asset and therefore will reduce Commonwealth net debt”.

WTF?

Is all that crown land and buried resources counted as assets?

Governments run on cash. They don’t pay tax to themselves. Balance sheet calculations make no sense. Debt providers can’t come in and take over the security.

If these idiots put $20b into a medical research bucket they may as well assume it’s been immediately pissed up against the wall.

And it will not in any way contribute to foreign debt repayment capacity

I think I need to look into this debt business. I should have guessed it’s all bullshit.