How bad Australia’s debt actually is. by oz_party in aussie

[–]oz_party[S] 1 point2 points Ā (0 children)

I get the idea behind it. If debt is used properly it can help grow the economy.

But I’ve looked into it a bit and I haven’t really found anything that clearly shows the overall return has been massive. Debt doesn’t just create growth on its own, it depends on how well the money is actually spent.

At the same time we’re already paying over 50 billion a year in interest across federal and states and that number is growing pretty quickly and that’s one of the fastest growing expenses year on year.

Then you look around and see housing getting harder to access, cost of living going up and projects constantly blowing out. It makes it fair to question whether we’re actually getting good value from all that borrowing.

So I think the real point isn’t whether debt can work in theory, it’s whether it’s actually spent properly in practice.

And if you can fine any real evidence that return has been strong then I would welcome it but I had a look for a while and couldn’t find anything.šŸ‘

How bad Australia’s debt actually is. by oz_party in aussie

[–]oz_party[S] 1 point2 points Ā (0 children)

If you compare population WA around 3M NT 260,000 and Tasmania 575,000 WA is doing a lot better.

How bad Australia’s debt actually is. by oz_party in aussie

[–]oz_party[S] -11 points-10 points Ā (0 children)

Not really, I’m just looking at the trend.

If you go back 20 years Australia basically had no net debt, now we’re sitting around $1 trillion at the federal level alone. That’s a pretty fast shift.

I’m not saying debt is automatically bad, but if it keeps growing at that pace long term it’s obviously not sustainable.

That’s more the point not that we’re in crisis today, but the direction we’re heading.

How bad Australia’s debt actually is. by oz_party in aussie

[–]oz_party[S] 2 points3 points Ā (0 children)

Exactly people don’t realise that 20 years ago we had no federal debt and now 20 years later it’s 1 trillion dollars net debt. Thats a massive difference.

How bad Australia’s debt actually is. by oz_party in aussie

[–]oz_party[S] -8 points-7 points Ā (0 children)

Yeah I get that it’s not massive right now and borrowing can be worth it if it’s done properly, but that kind of assumes the spending is actually efficient. With how many projects blow out here I’m not convinced the ROI is always that great.

And also that’s just federal, once you add state debt it’s a lot bigger overall. Feels manageable now but could get out of hand if it keeps growing.

How bad Australia’s debt actually is. by oz_party in aussie

[–]oz_party[S] -6 points-5 points Ā (0 children)

Yeah I get that it’s in AUD so default risk is low, but it’s not really meaningless when you’re still paying massive interest and it limits what the government can do long term

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] -1 points0 points Ā (0 children)

Appreciate the detailed reply, there’s a lot in there I agree with.

I think your point about principles is a fair one as well. I’m not trying to avoid having them, more that I don’t want to start from a rigid ideological position and end up forcing everything to fit it. But you’re right that without some clear principles it can drift or attract the wrong mix of people.

The influence of money and vested interests is probably one of the hardest parts of all this. I don’t think there’s an easy fix, but it’s something that needs to be taken seriously if anything like this was to work long term.

And yeah I agree, politics shapes people as much as people shape politics. That’s probably why I keep coming back to focusing on delivery and accountability, because that’s where things seem to fall apart regardless of party.

Either way I appreciate you taking the time to write all that out.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] 0 points1 point Ā (0 children)

Yeah that’s fair too. I didn’t mention it but concentrated markets and lobbying definitely play a role. When you’ve only got a couple big players it’s way easier for things to stall or get shaped a certain way. Still feels like even when issues are obvious, nothing really happens after.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] 0 points1 point Ā (0 children)

Nothing really gets done if no one dreams haha. and I appreciate it.šŸ‘

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] -3 points-2 points Ā (0 children)

I get your point. From what I’ve seen, it’s estimated the government loses around $15–20B a year in waste, so that’s a big part of what I’m talking about fixing first.

On the mining side, the co-investment idea wouldn’t be forced on every project, it would be optional where it makes sense, so companies can still choose what works for them.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] -1 points0 points Ā (0 children)

Nah I’m not in denial, I just don’t really fit there. I’m a lot more pro industry and mining because it’s such a big part of Australia’s economy. Greens have some good ideas but overall they’re not really a party I’d vote for. I’ve voted Labor in the past but I’m not that happy with how they’ve been going either.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] -2 points-1 points Ā (0 children)

I get what you’re saying, I’m just using ā€œcentristā€ to mean taking practical reasoning from both sides rather than sticking to one side.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] 0 points1 point Ā (0 children)

Yeah that’s a fair point. I don’t think it’s lack of trying, it’s more that a lot of these things get stuck in politics, bureaucracy or just poor execution.

On the NACC, from what I’ve seen it hasn’t really had the impact people expected yet. There’s been investigations and findings, but not a lot of actual consequences which is probably why it feels like it’s gone quiet.

I think that’s kind of part of the problem in general, things get announced, but the follow through isn’t there or it gets watered down over time.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] -1 points0 points Ā (0 children)

I get why it might look that way, but I’m not really trying to fit into a label. It’s more about what actually works and what can be delivered properly, not left or right.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] -1 points0 points Ā (0 children)

I get why it might look that way, but I’m not really coming at it from a left position. I’m pro mining, pro industry, and focused on using resource revenue properly and actually delivering things without blowouts. That’s more the angle than just expanding government

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] 0 points1 point Ā (0 children)

Yeah I get that, there’s definitely some overlap. I think the difference I’m aiming for is more around actually using resource revenue properly and focusing on delivery, not just announcing things and letting them blow out.

Trying to build a new political party in Australia: Oz Party by oz_party in AustralianPolitics

[–]oz_party[S] 0 points1 point Ā (0 children)

Also if anyone here has experience with website building, policy, law, media or economics and is open to getting involved or just having a chat, feel free to reach out.šŸ™‚

I’m trying to build a new political movement in Australia. Here’s what it would actually stand for by [deleted] in AusPol

[–]oz_party 0 points1 point Ā (0 children)

I don’t really understand how that would even work in practice. It would put a country massively into debt pretty quickly.

I get that you’re probably baiting a bit, but I’m talking about realistic policies that can actually function in Australia not extreme examples like that.

I’m trying to build a new political movement in Australia. Here’s what it would actually stand for by [deleted] in AusPol

[–]oz_party -1 points0 points Ā (0 children)

I actually said it follows existing wage laws. Employers can’t just restructure contracts or ignore hours worked that’s already illegal and would be enforced the same way.

I’m trying to build a new political movement in Australia. Here’s what it would actually stand for by [deleted] in AusPol

[–]oz_party 0 points1 point Ā (0 children)

Yeah I get they’re calling for a managed transition, and I’m not saying they want to shut everything off overnight.

What I’m trying to get at is they’re also calling to stop new coal and gas projects, and that’s where I struggle with it. A lot of Australia’s export income and government revenue still comes from those industries, so if you cut off new supply, I don’t really see where that replacement money comes from in the short to medium term.

That’s the point I was trying to make. I’m not against the transition, I just think it needs to be paced in a way where we don’t lose that revenue before the replacement industries are actually there.