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Government oblivious to economic woes

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18.07.2019

While the Morrison government sticks with its slogans about the state of, and prospects for, our economy - essentially "We have a strong economy" and "We are Making it Stronger" - the evidence is mounting as to just how tough many people are finding it.

In recent days the media have carried stories under very disturbing headlines, such as "Millions of Australians are forced to live pay to pay and would be broke in a month if they lost work", and "Credit card debt increasingly catching older Australians".

The first story quotes analysis from the financial comparison website finder.com suggesting that 46 per cent of Australians could be living pay to pay. They state that, "this equates to some 5.9 million people who might find themselves unable to cope with the sudden loss of their jobs, only able to survive financially for a month or less".

Even more disturbing was the finding that some 16 per cent - or about two million - are living day to day, in precarious positions where they could only survive for a week if they lost their jobs.

The second story reports an ASIC claim that 1.9 million Australians........

© Canberra Times