A million here, a billion there


Andy-Semple
Andy Semple has put together some images to clearly illustrate the state of Australia's finances that have resulted from the ALP's inability to manage finance and the economy.

A million here, a billion there. Pretty soon it starts to add up to some real money!

Below is one Billion US Dollars stacked on 12 standard pallets, altogether 10 million USD $100 notes. By Artist Michael Marcovici.

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Here is a list of some of the biggest waste fro this government so far:

BER value rorted$6,000,000,000.00 

School Halls over budget$1,700,000,000.00 

School Computers over budget$1,200,000,000.00 

Medicare overspend$1,400,000,000.00 

Pharmaceutical overspend$1,800,000,000.00 

Solar Panel Overspend$850,000,000.00 

NBN Tender failure$17,000,000.00 

Insulation$1,400,000,000.00 

Stimulus Cheques wasted$40,000,000.00 

TV Station handout$250,000,000.00 

Grocery Watch$10,000,000.00 

NT Housing program$45,000,000.00 

2020 summit?$10,000,000.00 

Copenhagen$1,500,000.00 

Whaling Envoy$1,000,000.00 

418 media advisors$50,000,000.00 

Ambassador to Holy See$10,000,000.00 

Fuel Watch$8,500,000.00

That brings the total so far to (AUD):    $14,793,000,000.00

In US dollar terms the waste comes too USD $13,485,298,800 (using the current AUD-USD$ spot of 0.9116) or 160 pallets.

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And as of 1:57pm on Wednesday August 4, 2010 our national debt stands at:

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Click here for a live Australian National debt clock quote
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Have you ever wondered what $94.5 billion dollars cash looks like?

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And Julia Gillard wants to make the Economy front and centre of the Election?

That’s an economic record I’d want to ‘move forward’ from too.

Andy is the founder and Managing Director of Stockbroking firm ANDIKA and the co-founder and Managing Director of boutique Funds Manager Xcelerator Capital Limited. He blogs regularly at www.andylsemple.com