Whichever party wins the election in 24 days, one thing is for sure: Fulfilling those election promises – which ARE kept – will be on the Government’s credit card.
Borrowings will take us ever further into debt. With interest payments already a significant drain on the NT treasury, the idea of “short-term gain for long-term financial pain” will come into sharper focus than ever before.
When it comes to debt, how long can the government keep kicking the can down the road before the vast amount we owe turns around to bite the territory hard?
And is that not true of governments everywhere?
True here in the US. The deficit/debt is incomprehensibly huge.