Abbott took on too much debt … and has gone bust

Tony Abbott's incompetence began in opposition, when he acquired a huge political debt that he could never repay. Now it's come back to haunt him.

Tony Abbott over-leveraged himself and the Coalition to the economy, in much the same way as a CEO takes on too much debt.

Everything needed to go right for his level of gearing to succeed, but it hasn’t gone right. The terms of trade have crashed and national income is in decline.

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