Free Republic

CANBERRA, Australia, Jan. 2 (UPI) -- The number of people living on the streets in Australia has risen in spite of Prime Minister Kevin Rudd's promise to end homelessness, homeless advocates say. More than 18 months after Rudd called homelessness "a national obscenity," groups like the Salvation Army and Youth off the Streets say more than 100,000 people have no place to live, The Australian reports. Government officials told the newspaper they believe the estimate is close to reality.

Australian households are in record levels of debt, and for the first time have surpassed American levels. Reserve bank figures show household debt - the combination of personal and mortgage debt - is equivalent to Australia's GDP. That means every adult owes an average of $74,000. Analysts warn that the financial crisis that rocked Main Street in America could well hit Australian families in 2010. Economics Professor Steve Keen at the University of Western Sydney says it is a sign that families are under financial stress. "We now have an enormous proportion of income that has to be devoted to...