![]() ![]() I mean, our circumstances are different, but the fact remains that we’re in a global economic climate here. MARKSON: Let’s bring in Bridget Mackenzie on this now. We’ve got the fortunate outcome that we have lower interest rates than the United States and quite strong employment, which we saw again in the Budget figures that were released last Tuesday. And I come from the great resources state of Western Australia, which has obviously seen us through both the COVID pandemic and other economic shocks in recent times. We are fortunate to have a strong export economy. ![]() So, we haven’t seen some of the challenges that we’ve seen in the United States. ![]() Here in Australia, we are fortunate to have a well-regulated banking sector. Now, I don’t want to prejudge where the US Congress will land on their decisions around their debt ceiling, but I think it’s obviously the appropriate decision for the US President to be there to make sure that he can be in those negotiations. We’ve framed our Budget for our economic circumstances here in Australia. This is just the latest sign in a range of signs that things are precarious, and we’ve kept that in mind. PATRICK GORMAN, ASSISTANT MINISTER TO THE PRIME MINISTER: Well, what we’ve known, Sharri, for a number of months, as we’ve framed the Budget that the Treasurer Jim Chalmers handed down last week, is that we do face a very uncertain global economy. Patrick Gorman, how concerned are you that this could mean that Australia might go into a recession? But I want to ask you about what this means if the US doesn’t reach an agreement to raise the debt ceiling, the US could go into recession, this would have a global impact. I don’t want to ask about your disappointment that the Quad has been cancelled. Look, let’s start with the big news today that Joe Biden has had to cancel his trip to Australia to deal with this debt ceiling crisis. SHARRI MARKSON, HOST: I want to bring in my political panel this evening Nationals Senate Leader, Bridget McKenzie, and Assistant Minister to the Prime Minister, Patrick Gorman. ![]()
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