Prior to 2007 - there was no debt ceiling

After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B

This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B

$300B worth of Labor mismanagement later....

Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity

And Labor is somehow angry at this???

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

Not at all.  Labor are so sorry for their mismanagement, that they want to make sure the Liberals don't repeat the mistake.  They asked the Government to explain why they needed the money - all they had to do was provide information.

But Dr No (still thinking he was in Opposition) said NO.   So the Labor party - not wanting to see the Libs embarrassed refused to allow it through

That left the Libs with no alternative but to break yet another core statement - and jump into bed with Christine and Adam

So, we have a foursome here, Sir Humpalot Tony and Christine, plus Arab Joe and Adam.  No wonder Adam was looking worried at the press conference!!

Have another slice of watermelon

;D...A very poor excuse for breaking an election promise with the help of the Greens  ;D

A lie doesn't fix another lie

I heard Libs wants a blank cheque so to pork barrel next election … they are terrified of Clive Palmer's deep pockets.


Any truth to this maqqa?

Well - a CEILING is meant to be a ceiling - not an air ceiling that can be moved infinitely upward.  All that is happening is that every second-rate jackass who comes along and sees the phrase' debt ceiling' assumes, quite deliberately assumes, that this means that rather than being a fixed asset in the government building structure - it is a movable feast that can go upwards endlessly..... and thus be used to satisfy every whim of government.

Now - my important question is this - if these jackasses are raising the amount of money they are borrowing against the future of this country AND (thank you ian small I et al) placing that into consolidated revenue for their current costs..... which include funding their inherent duty to pay pensions and so forth......

WHY ARE WE SIMULTANEOUSLY BEING ASKED TO TIGHTEN OUR BELTS TO COPE WITH THE DREADFUL CRISIS THESE JACKASSES HAVE BROUGHT ON AUSTRALIA?

They just grab whatever cash they want out of thin air to put wherever they damned well want - and then tell us we 'need' to do it tough to let the country survive.  (who was that 'WE' again, white man?).

Bring on the Revolution!  Vote them ALL out!

                                             ;)

Its really quite simple...the Libs broke their election promise on debt with the help of the Greens so Abbott and his goon squad are liars.

and our pride and joy Qantas is going to fall out of the sky????..WHYYYYYYY..

do we have any ICONS left??????????.

what a mess..wont be long and English will be our second language Chinese will be first. >:( >:(

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

yes all of the above makes sense if yor a non questioning gullible fool who sucks up coalition propaganda whole. 

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

now that you've had your rant, can you please point me in the direction of the explanation you allude to in your thread title

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

Like it or not, the Labor actions taken between 2007-2013, were basically correct according to standard Economic theory and that's pretty much what most countries did.

Like it or not, the actions currently being implemented by the Liberals, are basically correct according to standard Economic theory and at most times in the past those actions would have been correct.

Like it or not, both of the above actions have been largely rendered absolutely useless, by virtue of the inaction &/or inappropriate actions by Politicians over 40-60 years of actions!

Standard Economics & Politics that Batter, haven't worked so far AND THEY WON'T!

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

I wouldn't say the ALP is angry. More like embarrassed, because they do not want the Coalition to be able to undo the mistakes the ALP made over the past six years. That would leave the ALP looking more incompetent than ever, if that's even possible! :)

Gawd - I slept with Christine, didn't wear a dinger, I hope I haven't caught anything!  Was a bigger ceiling the right erection for me?

---

Debt ceiling...half a trillion dollars of debt for our kids to pay back...thanks Arab Joe  ;D

Libs don’t want to have to explain and want to keep all debt “Labor debt.”

When unemployment nudges 8% then the Libs will want to spend to stimulate the economy. Too late—time to spend is as soon as evidence of looming recession is clear.

Now is not the time to tighten belts—the economy is still too fragile and private sector indebtedness too high. So the idiot Libs, still talking the economy down even now(!) are going to cause recession by trying, vainly, to achieve a surplus Budget.

St George of the Garden wrote on Dec 6^th, 2013 at 3:08pm:

Libs don’t want to have to explain and want to keep all debt “Labor debt.” When unemployment nudges 8% then the Libs will want to spend to stimulate the economy. Too late—time to spend is as soon as evidence of looming recession is clear. Now is not the time to tighten belts—the economy is still too fragile and private sector indebtedness too high. So the idiot Libs, still talking the economy down even now(!) are going to cause recession by trying, vainly, to achieve a surplus Budget.

It won't have anything to do with our new Federal Government, as you well know. Your Leftard Lot wasted all the money we had saved to splash $900 cheques to dead people and those living overseas.

If Unemployment nudges 8% that reflects backwards on what Rudd/Gillard/Rudd did ..... wasted money on stupid stuff, with no thought to the FUTURE.

Go BBQ another Feral Pig! The worms will eventually get to you. >:(

Neferti wrote on Dec 6^th, 2013 at 4:20pm:

St George of the Garden wrote on Dec 6th, 2013 at 3:08pm: Libs don’t want to have to explain and want to keep all debt “Labor debt.” When unemployment nudges 8% then the Libs will want to spend to stimulate the economy. Too late—time to spend is as soon as evidence of looming recession is clear. Now is not the time to tighten belts—the economy is still too fragile and private sector indebtedness too high. So the idiot Libs, still talking the economy down even now(!) are going to cause recession by trying, vainly, to achieve a surplus Budget. It won't have anything to do with our new Federal Government, as you well know. Your Leftard Lot wasted all the money we had saved to splash $900 cheques to dead people and those living overseas. If Unemployment nudges 8% that reflects backwards on what Rudd/Gillard/Rudd did ..... wasted money on stupid stuff, with no thought to the FUTURE. Go BBQ another Feral Pig! The worms will eventually get to you. >:(

Doesn't seem to worry you when Rambo is the cook!

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity

The maximum projected debt till 2017 peaks at $370Billion but don't let the facts spoil your little fantasy.

ARAB JOE WANTS HALF A TRILLION DOLLARS  ;D ;D ;D ;D ;D ;D

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

Tony Abbott lied.

He said he would reduce the debt.

Bobby. wrote on Dec 7^th, 2013 at 9:10am:

Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt.

Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile.

Option 6

Armchair_Politician wrote on Dec 7^th, 2013 at 9:16am:

Bobby. wrote on Dec 7th, 2013 at 9:10am: Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt. Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile.

Abbott promised us a DD for early next year if Labor and the Greens refused to vote for his dimwitted Direct Action plan so given that no one in their right mind would vote for Direct Action we must go back to the polls asap or else Abbott lied to us.

adelcrow wrote on Dec 7^th, 2013 at 9:26am:

Armchair_Politician wrote on Dec 7th, 2013 at 9:16am: Bobby. wrote on Dec 7th, 2013 at 9:10am: Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt. Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile. Abbott promised us a DD for early next year if Labor and the Greens refused to vote for his dimwitted Direct Action plan so given that no one in their right mind would vote for Direct Action we must go back to the polls asap or else Abbott lied to us.

Abbott hasn't lied, that's the flaw in your thinking. If he'd finished his term today, then he'd have lied. Why can't you get your head around that simple fact?

Armchair_Politician wrote on Dec 7^th, 2013 at 9:50am:

adelcrow wrote on Dec 7th, 2013 at 9:26am: Armchair_Politician wrote on Dec 7th, 2013 at 9:16am: Bobby. wrote on Dec 7th, 2013 at 9:10am: Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt. Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile. Abbott promised us a DD for early next year if Labor and the Greens refused to vote for his dimwitted Direct Action plan so given that no one in their right mind would vote for Direct Action we must go back to the polls asap or else Abbott lied to us. Abbott hasn't lied, that's the flaw in your thinking. If he'd finished his term today, then he'd have lied. Why can't you get your head around that simple fact?

Increasing the credit card limit is the opposite of what Abbott said.

Show me a link that says he would increase the credit card limit
from one of his comments before the election.

Tony is a liar.

Bobby. wrote on Dec 7^th, 2013 at 9:52am:

Armchair_Politician wrote on Dec 7th, 2013 at 9:50am: adelcrow wrote on Dec 7th, 2013 at 9:26am: Armchair_Politician wrote on Dec 7th, 2013 at 9:16am: Bobby. wrote on Dec 7th, 2013 at 9:10am: Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt. Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile. Abbott promised us a DD for early next year if Labor and the Greens refused to vote for his dimwitted Direct Action plan so given that no one in their right mind would vote for Direct Action we must go back to the polls asap or else Abbott lied to us. Abbott hasn't lied, that's the flaw in your thinking. If he'd finished his term today, then he'd have lied. Why can't you get your head around that simple fact? Increasing the credit card limit is the opposite of what Abbott said. Show me a link that says he would increase the credit card limit from one of his comments before the election. Tony is a liar.

Show me a link where he ruled out increasing or abolishing the debt ceiling... ;)

Armchair_Politician wrote on Dec 7^th, 2013 at 9:57am:

Bobby. wrote on Dec 7th, 2013 at 9:52am: Armchair_Politician wrote on Dec 7th, 2013 at 9:50am: adelcrow wrote on Dec 7th, 2013 at 9:26am: Armchair_Politician wrote on Dec 7th, 2013 at 9:16am: Bobby. wrote on Dec 7th, 2013 at 9:10am: Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt. Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile. Abbott promised us a DD for early next year if Labor and the Greens refused to vote for his dimwitted Direct Action plan so given that no one in their right mind would vote for Direct Action we must go back to the polls asap or else Abbott lied to us. Abbott hasn't lied, that's the flaw in your thinking. If he'd finished his term today, then he'd have lied. Why can't you get your head around that simple fact? Increasing the credit card limit is the opposite of what Abbott said. Show me a link that says he would increase the credit card limit from one of his comments before the election. Tony is a liar. Show me a link where he ruled out increasing or abolishing the debt ceiling... ;)

He didn't mention borrowing more money.   ;)

Q) How log does it take to, "turn the Queen Mary around"?

A) ?                        

Bobby. wrote on Dec 7^th, 2013 at 10:06am:

Armchair_Politician wrote on Dec 7th, 2013 at 9:57am: Bobby. wrote on Dec 7th, 2013 at 9:52am: Armchair_Politician wrote on Dec 7th, 2013 at 9:50am: adelcrow wrote on Dec 7th, 2013 at 9:26am: Armchair_Politician wrote on Dec 7th, 2013 at 9:16am: Bobby. wrote on Dec 7th, 2013 at 9:10am: Maqqa wrote on Dec 5th, 2013 at 6:08pm: Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this??? Tony Abbott lied. He said he would reduce the debt. Has he finished his term? Are we due for an election next week? No, so give him time to honour that promise. Then if he has not done so by the end of his term, your comments will have some justification behind them instead of obvious hatred and bile. Abbott promised us a DD for early next year if Labor and the Greens refused to vote for his dimwitted Direct Action plan so given that no one in their right mind would vote for Direct Action we must go back to the polls asap or else Abbott lied to us. Abbott hasn't lied, that's the flaw in your thinking. If he'd finished his term today, then he'd have lied. Why can't you get your head around that simple fact? Increasing the credit card limit is the opposite of what Abbott said. Show me a link that says he would increase the credit card limit from one of his comments before the election. Tony is a liar. Show me a link where he ruled out increasing or abolishing the debt ceiling... ;) He didn't mention borrowing more money.   ;)

Did he rule it out? ;D

Tony Abbott is a bare faced liar who is no better than Gillard.

I hope Labor will remind him of his lie every day just as
the Libbos reminded Gillard of her lie every day.

perceptions_now wrote on Dec 7^th, 2013 at 10:09am:

Q) How log does it take to, "turn the Queen Mary around"? A) ?

As Tony is finding out a lot longer when you don't turn the wheel.

If you are trying to paraphrase reducing debt then spending more will seldom turn the queen Mary around.

Quote:

Fifty days out from the May Budget, it is clear that Labor’s Budget preparations are in chaos. Instead of putting together a Budget, Labor is duct-taping together a ministry.  Its focus is on survival rather than on developing and implementing good policy. After five years of debt and deficits, Australians need and deserve a return to competent economic management. Australia needs a responsible, honest Budget that doesn’t cook the books, doesn’t engage in class warfare and ensures that Australia once again lives within its means. The Budget can either continue Labor’s history of debt, deficits, waste, tax increases and broken promises or it can set a new course for our country. The Coalition will judge Labor’s Budget against five critical tests: 1.      Is the Budget based on honest and credible assumptions – or will it continue the dishonest paper shuffles and the ‘cook-the-books’ culture of recent years? 2.      Does it demonstrate a speedy path back to surplus in 2013-14 by cutting waste – or will Labor continue on with its profligate spending? 3.      Does it bring debt under control – or will Labor again increase the debt ceiling above its current $300 billion? 4.      Does it rule out new tax grabs such as further new taxes on superannuation? 5.      Does it detail how Labor will pay for its big spending initiatives like Gonski and the NDIS? The Coalition wants the coming Budget to demonstrate a credible path back to surplus in 2013-14.  This year's deficit is Labor's 11th in a row.  This is in contrast to the Coalition which delivered surpluses in 10 of the last 11 budgets it has delivered. We also want to see credible and achievable forecasts.  Australia can't afford another year of Labor ‘cooking the books’ and the inevitable blowout that follows.  This year there is a deficit rather than the promised surplus, last year there was a $21 billion blowout and in the year before there was a $7 billion blowout. These budget failures have resulted in a massive blow-out in Australia’s debt and more than $7 billion a year in interest payments.  There has been a bigger increase in debt over Labor’s first four budgets, in dollar terms and as a share of GDP, than over any other four-year period at least since 1970, when the historical data published in modern Budget papers begin. We should not see another increase in Australia’s $300 billion debt limit. The limit has already increased in just a few short years from $75 billion, to $200 billion, to $250 billion, and then only last Budget to $300 billion. Labor has squandered the good financial management of the Howard Government that paid off the debt and left Australia with assets in the bank. The path back to surpluses, debt reduction and a strong, prosperous economy must be through cutting wasteful spending, rather than on increasing taxes or introducing new ones. About half of all the “saves” Labor has claimed in Budgets and Mid-Year reviews over the past few years have actually been tax increases – and in the most recent Mid-Year Review, just last October, this fraction was higher still at over 80 per cent. Instead of hitting Australians and Australian businesses with yet more new taxes, the Government needs to address the fact that it is currently spending almost $100 billion a year more than in the last year of the Howard Government. Labor has a spending problem, not a revenue problem – with the Mid-Year Review projections showing revenue this year expected to be over $70 billion higher than at the end of the Howard Government, and with Budget data for the first seven months of this financial year showing revenues up by almost 5 per cent relative to the same period in the previous financial year. Australia must live within its means.  Labor’s debt and deficits have left Australia more vulnerable to an economic shock and mean less protection in the event of a financial crisis. The Coalition has a plan for a strong, prosperous economy and that means ensuring that our children are not burdened by unfairly high taxes and left with a heavy debt. http://www.liberal.org.au/latest-news/2013/03/25/tony-abbott-joint-press-release-joe-hockey-2013-14-federal-budget

The Coalition have changed the rhetoric on many issues since the election.....This is just another example of saying one thing and doing another!!!

:-? :-? :-?

philperth2010 wrote on Dec 7^th, 2013 at 12:34pm:

Quote: Fifty days out from the May Budget, it is clear that Labor’s Budget preparations are in chaos. Instead of putting together a Budget, Labor is duct-taping together a ministry.  Its focus is on survival rather than on developing and implementing good policy. After five years of debt and deficits, Australians need and deserve a return to competent economic management. Australia needs a responsible, honest Budget that doesn’t cook the books, doesn’t engage in class warfare and ensures that Australia once again lives within its means. The Budget can either continue Labor’s history of debt, deficits, waste, tax increases and broken promises or it can set a new course for our country. The Coalition will judge Labor’s Budget against five critical tests: 1.      Is the Budget based on honest and credible assumptions – or will it continue the dishonest paper shuffles and the ‘cook-the-books’ culture of recent years? 2.      Does it demonstrate a speedy path back to surplus in 2013-14 by cutting waste – or will Labor continue on with its profligate spending? 3.      Does it bring debt under control – or will Labor again increase the debt ceiling above its current $300 billion? 4.      Does it rule out new tax grabs such as further new taxes on superannuation? 5.      Does it detail how Labor will pay for its big spending initiatives like Gonski and the NDIS? The Coalition wants the coming Budget to demonstrate a credible path back to surplus in 2013-14.  This year's deficit is Labor's 11th in a row.  This is in contrast to the Coalition which delivered surpluses in 10 of the last 11 budgets it has delivered. We also want to see credible and achievable forecasts.  Australia can't afford another year of Labor ‘cooking the books’ and the inevitable blowout that follows.  This year there is a deficit rather than the promised surplus, last year there was a $21 billion blowout and in the year before there was a $7 billion blowout. These budget failures have resulted in a massive blow-out in Australia’s debt and more than $7 billion a year in interest payments.  There has been a bigger increase in debt over Labor’s first four budgets, in dollar terms and as a share of GDP, than over any other four-year period at least since 1970, when the historical data published in modern Budget papers begin. We should not see another increase in Australia’s $300 billion debt limit. The limit has already increased in just a few short years from $75 billion, to $200 billion, to $250 billion, and then only last Budget to $300 billion. Labor has squandered the good financial management of the Howard Government that paid off the debt and left Australia with assets in the bank. The path back to surpluses, debt reduction and a strong, prosperous economy must be through cutting wasteful spending, rather than on increasing taxes or introducing new ones. About half of all the “saves” Labor has claimed in Budgets and Mid-Year reviews over the past few years have actually been tax increases – and in the most recent Mid-Year Review, just last October, this fraction was higher still at over 80 per cent. Instead of hitting Australians and Australian businesses with yet more new taxes, the Government needs to address the fact that it is currently spending almost $100 billion a year more than in the last year of the Howard Government. Labor has a spending problem, not a revenue problem – with the Mid-Year Review projections showing revenue this year expected to be over $70 billion higher than at the end of the Howard Government, and with Budget data for the first seven months of this financial year showing revenues up by almost 5 per cent relative to the same period in the previous financial year. Australia must live within its means.  Labor’s debt and deficits have left Australia more vulnerable to an economic shock and mean less protection in the event of a financial crisis. The Coalition has a plan for a strong, prosperous economy and that means ensuring that our children are not burdened by unfairly high taxes and left with a heavy debt. http://www.liberal.org.au/latest-news/2013/03/25/tony-abbott-joint-press-release-joe-hockey-2013-14-federal-budget The Coalition have changed the rhetoric on many issues since the election.....This is just another example of saying one thing and doing another!!! :-? :-? :-?

The problem is that Labor virtually "Abbott-proofed" so many policies and scheme's that it is almost impossible for him to end or change them. Nearly all of them are partially funded, unfunded or funded by ripping money from other programs. So the only way for Abbott to pay the bills is to borrow more until Hockey can get on top of things and start paying off Labor's colossal debt. It took Howard/Costello 11 years to pay off Keatings' relatively small debt, so how many decades do you think it'll take to pay this latest Labor debt off? I reckon we'll be lucky if it's paid off by the time I retire in 30 years from now.

perceptions_now wrote on Dec 7^th, 2013 at 10:09am:

Q) How log does it take to, "turn the Queen Mary around"? A) ?

Well, it seems there are no Financial experts willing to make a guess.

In fact, the answer can be encompassed in the following words -
It depends on the actual circumstances!

In reality, it does take quite some time & distance, to turn the Queen Mary, "in normal circumstances" and the same usually applies to Economics.

That said, these are not "normal circumstances", they are actually "once in history circumstances" and the fact is that neither the Liberals or Labor have any idea, why things are happening, nor what they should be doing.

But, casting an enormous shadow over everything, is that they are both still rushing headlong at their own short term interests & those of their supporters, instead of concentrating on what should be the only game in town and that is the Best, Long term interests of all Australians!

Bobby. wrote on Dec 7^th, 2013 at 10:15am:

Tony Abbott is a bare faced liar who is no better than Gillard. I hope Labor will remind him of his lie every day just as the Libbos reminded Gillard of her lie every day.

It is now on record.


Tony has lied.

Maqqa wrote on Dec 5^th, 2013 at 6:08pm:

Prior to 2007 - there was no debt ceiling After Rudd came to power - through their mismanagement - decide to instal a debt ceiling of $150B This debt ceiling was meant to assure the voters that Labor's mismanagement would not exceed $150B $300B worth of Labor mismanagement later.... Now the LIBs discovered that we need close to $500B to actually fix Labor's stupidity And Labor is somehow angry at this???

Two wrongs don't make a right. If there's an argument to be made, it should stand on it's own merit. Appealing to the childish bipolarity of popular political culture is disingenuous. I don't know enough about the budget to know whether it really matters if we have a debt cieling. If noone else is doing it anymore, they must be onto something. It seems to me that the current trend is running everything into the ground or selling it to the Chinese. There must be something on the horizon.