Let’s take a look at some economic indicators that should give us an idea of the level of indebtedness in the country.
Household debt – 83 per cent of GDP
Federal government debt – 53 per cent of GDP
Federal government debt plus guarantees – 69 per cent of GDP
Corporate debt – 96 per cent of GDP
I don’t know about you, but I’m worried about this state of affairs – and all the while, BN leaders are diverting our attention from this level of indebtedness to the more divisive issues in our midst.
Figures above are from The Edge weekly, 12 August 2013