<transcript><audio_44>limited exactly well currently we're running a 39 billion dollar deficit as in the Australian government has spent 39 billion dollars more than they've taken back in taxes can you do that is your overdraft facility 39 billion</transcript><transcript><audio_45>dollars I didn't think so and if they wanted to the government could take out 80 billion dollars or 100 billion dollars in fact during World War two we were running government budget deficits that were 25 percent of GDP right now it's about two and a half</transcript><transcript><audio_46>percent of GDP so when we're in a pickle the Australian government can borrow 10 times more than its borrowing right now again can you do that let's say you were really in a jam the average Australian has a private debt of about 250 thousand dollars so let's say I'm really in a</transcript><transcript><audio_47>pickle I have a debt of $250,000 somebody's gonna break my legs you know if I don't come up with some cash really quickly so I go down to my local bank branch and say please you've got to help me somebody's gonna break my legs can I please have two and a half million</transcript><transcript><audio_48>dollars no you can't your line of credit doesn't extend that far when you're in a jam you can't just borrow ten times your current debt the Australian government can and did they can do it again whenever they like that's why you're not the same as the government budget</transcript> limited exactly well currently we're running a 39 billion dollar deficit as in the Australian government has spent 39 billion dollars more than they've taken back in taxes can you do that is your overdraft facility 39 billion dollars I didn't think so and if they wanted to the government could take out 80 billion dollars or 100 billion dollars in fact during World War two we were running government budget deficits that were 25 percent of GDP right now it's about two and a half percent of GDP so when we're in a pickle the Australian government can borrow 10 times more than its borrowing right now again can you do that let's say you were really in a jam the average Australian has a private debt of about 250 thousand dollars so let's say I'm really in a pickle I have a debt of $250,000 somebody's gonna break my legs you know if I don't come up with some cash really quickly so I go down to my local bank branch and say please you've got to help me somebody's gonna break my legs can I please have two and a half million dollars no you can't your line of credit doesn't extend that far when you're in a jam you can't just borrow ten times your current debt the Australian government can and did they can do it again whenever they like that's why you're not the same as the government budget
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