It’s not often that I write a political blog but after a robust discussion with my daughters over dinner I thought that it was about time I put pen to paper. Almost every night I see all the candidates from both the republicans and democrats being paraded across the television…..and I’m in Australia!
To be fair, Australia is also in an election year and our screens are filled with politicians kissing babies, making promises and almost completely ignoring fiscal responsibility. So although this article uses numbers from the USA….trust me when I say that Australia is relatively similar.
So, what can politicians actually do to bring budgets back into surplus, pay off debt and do all the things they expect you and I to do at home? Well, not much actually…..unless they are prepared to tip over the applecart and show some real leadership.
I came across this little pie chart (see below) which really sums up the economic situation quite nicely. It basically said that 84 percent of the budget goes to keeping the lights on in social security, defence, health, debt interest and various tax credits....