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AAA rating partly attributed to low public debt. (Read 7053 times)

Andrei.Hicks

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Re: AAA rating partly attributed to low public debt.
Reply #90 - Mar 31^st, 2013 at 11:19am

MOTR wrote on Mar 31^st, 2013 at 11:06am:

Maqqa wrote on Mar 31^st, 2013 at 10:40am:

philperth2010 wrote on Mar 31^st, 2013 at 10:14am:

What you have failed to take into account Andre is the lost revenue from lower commodity prices and the higher Australian dollar hurting our exports.....

In 2007 - Swan promised a surplus 1.5% of GDP

GDP have remained the same if not higher since 2007

Same blame lower commodity prices all you want - but Swan based his promise on GDP

Swan and Treasury were not expecting the decline in commodity prices to leave the dollar untouched. If the dollar had fallen as expected nominal GDP would have grown in line with expectations and the Treasury would have been the beneficiary of normal bracket creep.

So while the governmen's bottom line isn't where we expected it to be, it's been good for households who have been able to hold onto a larger chunk of their real wages.

Households who in polling have said they feel cost of living pressures than ever before?

Australians have a cost of living almost 130% of the middle income US family.

This Government has done little to ease cost of living.
I know I felt it living there.

Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde

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MOTR

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Re: AAA rating partly attributed to low public debt.
Reply #91 - Mar 31^st, 2013 at 11:29am

Andrei.Hicks wrote on Mar 31^st, 2013 at 11:03am:

MOTR wrote on Mar 31^st, 2013 at 9:59am:

Andrei.Hicks wrote on Mar 31^st, 2013 at 9:56am:

I never said Howard got us out of debt, ever.
I am not a rusted on voter and have no side, hence there is no reason to exaggerate anything for me.

But, within that 5 year period the country asset pool will not have adjusted by any base amount to significantly impact the gearing position ratio trend between gross and net.
As is basically proven by my two graphs which trend exactly the same.

Labor have increased the debt position both net and gross. Unnecessarily so in my opinion.
That is my point.

You can increase debt at the gross level and reduce net debt by increasing the asset position off which you borrow, nothing wrong with that.
Labor haven't done that, they just borrowed off a reasonably static asset reduction and therefore increased net and gross debt.
Poor management.

Please stop saying about me coming first in economics. It makes you look like you don't understand the university honours system.
Getting a first and coming first are not the same.
One of the Indian girls probably came first with 99% given those guys probably get beaten if they score any less.

Apologies, Andrei, I thought you were talking about fifth grade. But thanks for the Gish Gallop, Andrei, I needed a good laugh.

I am not interested in trading personal comments etc, but you would admit that the country is in a worse position economically than when Labor took over?

Andrei, that's an impossible question to answer. Considering, Swan and the Rudd government had to cope with the aftermath of the GFC, why wouldn't you expect the economy to be in a worse position on some measures. On other measures our economy is in a stronger position.

However, with respect to fiscal policy I think Swan has performed quite competently. Even his insistence on delivering a budget deficit in the face of changed economic circumstances is admired by some in treasury who believe it was vital in maintaining fiscal discipline within cabinet. So while he lost some political capital in the process his obstinance has left us in a better position to start paying down debt.

Hunt says Coalition accepts IPCC findings

"What does this mean? It means that we need to do practical things that actually reduce emissions."

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MOTR

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Re: AAA rating partly attributed to low public debt.
Reply #92 - Mar 31^st, 2013 at 11:33am

Andrei.Hicks wrote on Mar 31^st, 2013 at 11:19am:

MOTR wrote on Mar 31^st, 2013 at 11:06am:

Maqqa wrote on Mar 31^st, 2013 at 10:40am:

philperth2010 wrote on Mar 31^st, 2013 at 10:14am:

What you have failed to take into account Andre is the lost revenue from lower commodity prices and the higher Australian dollar hurting our exports.....

In 2007 - Swan promised a surplus 1.5% of GDP

GDP have remained the same if not higher since 2007

Same blame lower commodity prices all you want - but Swan based his promise on GDP

How do you measure that from year to year, Andrei?

Hunt says Coalition accepts IPCC findings

"What does this mean? It means that we need to do practical things that actually reduce emissions."

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