🚨 RBA IN TOTAL CHAOS After James Paterson EXPOSES Their Reckless Spending Spree Under Chalmers – Interest Rates Set to EXPLODE! 🇦🇺💥

The Senate hearing room turned into a political powder keg this morning when Senator James Paterson cornered Reserve Bank of Australia Governor Michele Bullock into a series of brutal admissions that have sent shockwaves through the nation: Labor’s unchecked deficit spending under Treasurer Jim Chalmers is directly fuelling higher interest rates, inflicting crushing pain on families already battered by the cost-of-living crisis, with no end in sight and no apology from the government.

What began as a routine appearance by the RBA Governor quickly descended into high-stakes fury as Paterson methodically dismantled Labor’s economic narrative. Armed with the latest RBA data and OECD warnings, Paterson demanded straight answers: why have persistent structural deficits and massive government borrowing contributed to sustained high interest rates, and why has the RBA been forced to keep monetary policy tighter for longer than it otherwise would have?

The Governor’s responses were devastatingly candid. Under relentless questioning, Bullock confirmed what many economists have long suspected but few in power have dared to say aloud:

“Fiscal policy settings that result in large and persistent deficits exert upward pressure on interest rates over time.” “The scale of government borrowing has been a contributing factor to the level of rates we’ve needed to maintain to bring inflation back to target.” “If deficits remain high, it becomes harder to normalise policy without risking inflation rebounding.”

In plain English: Labor’s wild spending — the cash splash that Chalmers has defended as “investing in the future” — is forcing the RBA to keep interest rates higher for longer, slamming mortgage holders, small businesses and families already struggling with inflation that has outpaced wages for three straight years.

Paterson didn’t let up: “Australians are paying the price for Labor’s fiscal fantasy. While Chalmers and his elite cronies keep the taps wide open in the shadows, ordinary people are bleeding — higher mortgages, higher rents, higher everything. And the Governor just confirmed it: more reckless spending = more pain for the people.”

The chamber erupted. Coalition senators cheered; Labor MPs shifted uncomfortably. Bullock’s face remained composed, but her admissions were dynamite: the RBA is effectively being forced to fight inflation with one hand tied behind its back because of Canberra’s borrowing binge.

The fallout has been immediate and ferocious. Within minutes of the footage hitting social media, #PatersonExposesRBA and #ChalmersDebtBomb exploded nationwide. Aussies vented raw anger: “Paterson just said what we’ve all felt — Labor’s spending is killing us!” “RBA admits deficits push rates up — Chalmers still says ‘no problem’? Resign!” “Families can’t breathe with these rates, and Labor keeps splashing? Criminal.”

Opposition Leader Peter Dutton pounced: “James Paterson has dragged the truth into the open. The RBA Governor has confirmed what we’ve said for months: Labor’s reckless deficits are forcing interest rates higher and crushing Australians. Chalmers must answer for this betrayal.” Pauline Hanson was even more direct: “Paterson nailed it — Labor’s big-spending addiction is breaking the bank and breaking families. Time to stop the excuses and start cutting the waste!”

Even neutral economic commentators were stunned. The Australian Financial Review ran the headline: “RBA Governor Confirms: Labor Deficits Driving Rates Higher.” The Sydney Morning Herald called it “the most uncomfortable truth Canberra has heard in years.”

Albanese’s office scrambled to respond, issuing a defensive statement: “The government is focused on responsible fiscal management while delivering cost-of-living relief. Interest rates are set independently by the RBA.” But the public isn’t buying it. With mortgage stress at record levels, rents up 20% in major cities, and inflation still biting hard, voters see straight through the spin.

The warning is unmistakable: Australia’s financial stability is hanging by a thread, and Labor’s big-spending fantasy is the blade doing the cutting. If deficits keep exploding, rates stay punishing — and the pain keeps coming.

Patriots are seething. The bush, the suburbs, the mortgage belt — they’ve had enough. The RBA has spoken. The truth is out. And Labor’s excuses are running out of road.

Australia is watching. The anger is boiling. And the next election just got a lot closer for Anthony Albanese.

The fiscal cliff is real. And the country demands answers — not more debt.