Interview with Mark Crosby, Melbourne Business School, on government
debt. Crosby says Australian Government owes relatively little. King
says I thought Barnaby Joyce said we are paying millions of dollars a
day. Crosby says the Government deficit is $40b which is 3% of our GDP.
He says the idea an individual should never have debt is preposterous.
Crosby says the debit is not an issue for Australia like in Greece and
the UK. He says debt is not out of hand as long as the Government
balances longer term. He says institutions in Australia own the Federal
Government's debt. He says GDP growth predictions are optimistic
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