John Fedup
The Bunker Group
I can't see us lifting spending above 2% without a shooting war breaking out. We have a serious demographic crisis looming that I don't think we've budgeted for. I got my Tax Return "how government spends my tax dollar" letter the other day and the percentage of old age pension, disability pension and general health care expenses (related to an aging population) is startling. The media hyped "dole bludgers" barley rank a show in the gov expenses in comparison. I think in 10 years time we are going to have to really fight to keep our 2% defence commitment where it is sadly. Perhaps I'm just alarmist but I see trouble coming.
Australia is not the only country facing the demographic crisis. Most Western nations have this problem as the boomer generation starts receiving their pension benefits. China and Japan have this issue as well although for different reasons.