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No it's not Rod. The 16 Billion in debt Fraser left to Hawke was part of the 96 Billion Keating left to Howard. Howard paid the lot off. Gone. Vamoos. With 22 Billion in cash in the vault ready for a rainy day (read GFC looming) thank God. That 22 Billion in cash was an asset fellas...

Federal Labor Govt, who have decided to overspend during their tenure of 165 Billion (the 20 Billion in cash....didn't that get scooped up and spent quickly....and the 145 Billion in current debt) are currently incurring 8.2 Billion per annum in interest. All investors here on the forum...

A blind troll.....from start to finish. 1983 : Libs lose election.....Debt at 16 Billion...Labor take over and increase debt. 1996 : Labor lose election...Debt at 96 Billion...Liberals take over and pay off all of the debt. 2007 : Libs lose election......Debt nil....Over 20 Billion...