Australia has one of the lowest debts in the world does it not? Having some form of debt is natural in running a country.

We were in surplus in 2006/07.

which meand fuck all. All it means is that the howard government hoarded the money and the people look we have money

I like the rationale that the is no debt/deficit problem because relative to OECD we're a "low debt" nation. It's a bit like maxing out all your credit cards and then pointing to Greece to convince yourself there is no problem. We used to be a first class economy with no net debt, relatively high GDP growth and billions in budget surplus (putting a bit of spare cash in the bank for rainy days like the GFC isn't hoarding), now we're falling back into the pack and adopting the same fiscal habits that got many countries in Europe into the shit.

There are times when it's right for the government to hoard money. More important than the debt situation, it's important for the government to do it's part to keep inflation in check. When the economy is going along too strongly it should try and ease spending, on the other hand when it isn't it should be spending to help stimulate it.

At the moment things aren't going that well so cutting in general doesn't make sense. The Libs aren't even really cutting to balance the books, they're cutting in areas that they are ideologically against and that they think will win them votes with the true believers (some of which you see getting pretty mad around here at the moment). They're also cutting tax revenues (carbon tax) but leaving in income tax changes that were brought in to help ease the pressure on the average joe. Finally they're infrastructure spending which could stimulate are going to their mates so they can benefit. E.g. Telstra with the NBN and various private road building contractors. Any cost benefit analysis is blatantly rigged to give the result they want.

Couple this with broken promises and their inability to negotiate at all with what is mostly a right wing cross bench and there's no doubt this is the worst government in Australian history.

Edited by mcjules: 3/2/2015 05:59:02 PM

First I've heard of putting money away for the GFC.

Didn't think crystal balls were working back then?

-PB

Possibly not crystal balls, perhaps simply the rather benign notion that if the economy collapses it might be handy to have some spare cash on hand to dig ourselves of an giant shithole. Oh how Greece might have fared differently had it not run a deficit every year since 1972. But it's clear there are people who believe debt is an infinite source of magical cash and bad things don't happen.

It's happening.



https://twitter.com/PatsKarvelas/status/562532951330537472

Six hours ago? Certainty? Gaining momentum? It's happening?

Top notor kek

Who are you hoping for, Morrison I suppose?

I'd rather a stable government that doesn't keep changing its leaders on whim in response to the polls. I'd probably start voting for the Greens if Mal Brought becomes PM

Our country is becoming a shambles. Changing leaders every few months. We are acting like a poor country.

^ happens when both sets of parties say and do anything to get into power , instead of doing things thats best for the country as a whole . They say and do things that will appeal to their lot . Sick of it tbh .

I agree with rusty, the people voted in a Liberal government with Tony Abbott as leader and they should stick by him and let the people decide at the next election.
[-o< [-o< [-o<

The worst part is the backstabbing of each other.

Labor hasn't had to say anything and the liberals are all clambering over Abbott's carcass. Its pathetic.

It's too early for an opposition to be releasing any significant policy differences. It's not Labor's job to rubber stamp everything (they have passed some things too) and the government have a large cross bench to negotiate with which they've failed abysmally to do.

I do fear that due to the farcical nature of the Liberal party's win last election (no real policies just catch phrases) that Labor will try the same. Hopefully some of the minor parties get some traction as I think it produces a better government to have some diversity in opinion and because of the need for compromise.

That's what Tony gets when he thinks people voted specifically for him at the last election.

-PB

I know my Mrs voted for his paid parental scheme thing, so now that he has ditched that she is filthy :lol:

The one thing I liked about the Liberal party, and Abbott, when they came in was they said all this nonsense wouldn't happen :lol:

Sadly, I think this is the new political landscape.

It will keep happening regardless of who's in power. People keep getting away with these coups. Greedy front benches will clamber over each other for the top job. They should call an election if a prime minister is to be ousted.

I want politics to be about real substance. Policies that can benefit the whole country not catch phrases. I want a government that doesnt talk down our economy when in oppostion and then say its labours fault. I want politics to be adult and not name calling which sadly we have for a loong time

Julia Baird twitter:



Rusty shitting bricks.

Joe Hockey, December 2012
Interest Rates cut to 3%.
“The Reserve Bank wouldn’t be cutting interest rates if the economy, looking forward . . . was doing really well,” he said. “These are emergency levels of interest rates and the Reserve Bank is catching a falling Australian economy where a government is not.”

Joe Hockey, February 2014
Interest Rates cut to 2.25%
"This is good news for Australian families and it's good news for Australian business. It's good news for jobs and it's good news for households."

^this is what I mean. When they were in oppostion , they talked down the economy so much that business confidence went down.

As a stout Liberal voter, this Government is really crapping up at the moment.

What I don't want to see is another Labor party circus in another spill. Abbott is head-desk worthy but I would rather he stay in power for the time he was elected for than to go down to Labors level of infighting.

In other news, though Julia Gillard was the first female Prime Minister, I wonder if feminist groups will look on the first elected female Prime Minister with more importance

Australian politicians of all stripes still haven't learned that voters don't forget as easily as they used to.

Gillard was elected.

no because Gillard has a penis

So what was Julia Gillard then?

I think the point he's making is Gillard became PM after forming a minority government with Windsor, Oakeshott etc. Technically the constituency didn't elect a government that day.

and the feminists don't care because she has a penis