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  • Now unless the expenditure that gave rise to the debt is generating income tax growth or the economy is growing leading to increased tax income then the debt grows & is never paid off and the growing interest payment is a drag on the economy.If this is the vicious circle that we are in, we cannot afford GONSKI, NDIS, NBN, Defence to 2% of GDP etc & the Audit Commission is right.How do we break thr
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