Evidence of rising economic hardship is ample. There’s one commonly used standard for measuring it: the U.S. Census Bureau’s poverty rate. It guides much of federal and state spending aimed at helping those unable to make a decent living.'
This is what happens to a country that borrowed so much money it is having trouble repaying the interest, let alone the principle!
At last count, according to Barnaby Joyce, the Federal Labor Government is borrowing 95 MILLION DOLLARS A DAY!
Senator Joyce also reports " The budget that the Deputy Prime Minister handed down two months ago forecast borrowing of $150 million a day for the next financial year. Gillard is already on track to smash Rudd’s record and things look like getting worse before they get better."
Move over America, here we come!