Sticking point struck on ceiling talks
The bickering has turned to accusation-flinging as a stand-off unfolds in parliament, with neither side willing to adjust the position on the debt ceiling just yet.
There are warnings today that the stoush could devolve into the kind of protracted squabble that shut-down the United States’ government services in recent weeks.
The points of the stare-down are fairly clear; the Federal Government wants to increase the debt ceiling limit from $300 billion to $500 billion - the Opposition and Greens party will only support a lift to $400 billion.
One sticking point for the parties against the increase is that the Government has not provided any details on how a majority of funds would be spent, if they are granted.
The Opposition wants to see the budgetary details underpinning the supposed necessity.
Prime Minister Tony Abbott has compared the Labor party to the ultra-conservative, pro-business Tea Party movement in the US.
“On December 12, Australia will be in breach, unless we get this legislation passed, and now it seems that Bill Shorten and his cohorts want to act like the Tea Party in Washington and bring on some kind of crisis for our country,” Mr Abbott told a morning television show this week.
“They mucked things up and they should allow this legislation to deal with Labor’s debt legacy to pass through the parliament.”
Green leader Christine Milne says her party will hold its ground
“The Greens will not support an increase in the debt ceiling to $500 billion without more information on the state of the nation’s finances and a clear rationale from the Coalition as to why the increase is needed,” Milne said.
“We will join Labor to support a more reasonable increase to $400 billion if the Government refuses to come clean on the details to justify their massive increase in the debt limit.”
“The Prime Minister played political games with the debt ceiling when in opposition, now he is expecting us to just swallow whatever he dishes up without knowing what’s what.”