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 Why is Sydney seen as the capital of Australia?
When really it is Canberra? (ACT -Australian Capital Territory)

Is it because Canberra is smaller and for instance would not hold a lot of people in a big event like Sydney did in our ...


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 Who named the city darwin?
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 What is Australia really like?
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 What is 2 USD in NZ money?
what is 2 USD in NZ money?? please answer thank you!
Additional Details
please answer i really need to know fast! thank you!...


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...


 From Perth to Darwin then to ULURU?
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aflumpire

When the Australian Economy goes into deficit, then who are we debt to?

Will we in debt to some rich middle eastern country, or to a bank...who do we go into a debt to??

And will it mean higher taxes to pay it off faster?

    



Show all answers


Mel
Rating
We borrow from the International Monetary Fund.

The government has said that once the economy stabilises that our taxes will be used to pay off this debt, which to me says yes they will up our taxes. They will need to, everything else will still need money, so they will need extra to pay it back.

Enjoy the low interest rates and taxes while you can.


Xaver
Rating
Our self.


QLD RULES
China............


Pirates geo
world bank? IMF? I don't really know.


Ozmaniac
We don't borrow from middle eastern countries and we don't borrow from banks. The money doesn't really come from anywhere specific; it mainly comes from our simply increasing the money supply but the bottom line is that the piper must eventually be paid.

When the economy turns around, what would have been budget surpluses will be used to pay our 'debts' and for a few years, we'll have to say goodbye to tax cuts and some of the pork barrelling and spending that would otherwise have happened.

People here are acting as if budget deficits are something unusual. They're not and nearly every other country always operates with budget deficits and so has Australia in the past. The Liberals won't tell you this, but the only reason they were able to operate with surpluses to begin with was because they sold off 'the farm' i.e. Telstra, Qantas, etc. In a normal year with a strong economy (which will return within a few years), our government receipts greatly exceed our government commitments and those surpluses if not spent, go to reducing debt. Higher taxes would pay it off faster, but unless the debt climbs to currently unimaginable proportions, that won't be necessary.


Jesus is Lord over all
mate it is not just us it will be globally too scarey stuff



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