Australian Politics Forum - $19B deficit?....add another $8B to it pls

Maqqa

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14% - that low?!

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$19B deficit?....add another $8B to it pls
Jul 26^th, 2013 at 10:51pm

http://au.news.yahoo.com/latest/a/-/latest/18164803/labor-razor-gang-faces-dilem...

The Federal Government is facing a budget dilemma, with the ABC learning revenues are around $8 billion lower than the May budget predicted.

The Government's razor gang met this morning to debate whether to implement painful budget cuts before the election or delay the return to surplus, currently scheduled for 2016-17.

The budget is in a tough position with the mining tax underperforming and revenue from other taxes also lower than expected.

Treasurer Chris Bowen today said Australia was also facing "dramatic reductions" in its terms of trade, but reaffirmed the intention to return to surplus on schedule.

The Government has got decisions to make on any potential cuts, but insiders insist the easy cuts have all already been made.

One Labor source questioned whether the Government should cause budget pain for the public at a time when Labor is just starting to perform better in the polls.

The Government will release its fiscal update next week, and Treasury will release its own accounting, the pre-election fiscal outlook (PEFO), early in the election campaign.

Earlier Friday, Opposition treasury spokesman Joe Hockey questioned the motives for the release of the Government's fiscal update so close to the PEFO.

"Why is the Government releasing a comprehensive economic statement just a few days before the pre-election fiscal outlook? It is about trying to bully the Treasury into a fixed set of numbers," he said.

Mr Hockey questioned the independence of Treasury by saying the Coalition would not rely on its figures to frame its policy costings because they could not be trusted.

That was despite earlier in the year saying "the only numbers than we can rely on are the PEFO numbers released by the heads of department during the course of the election campaign".

Mr Hockey now says every time the Government publishes budget figures they are "dead-set wrong".

He says the Coalition will instead base its policy costings on figures from the Parliamentary Budget Office, state Coalition governments and independent advisers.

The Treasurer has rejected Mr Hockey's assertions about Treasury's independence.

"It is an insult not to me but to the Treasury and the Department of Finance, and I am sick and tired of the Opposition trashing the reputation of Australia's public servants," Mr Bowen said.

Opposition Leader Tony Abbott has backed his treasury spokesman.

"Joe was making the point that figures from this Government have never turned out to be true; never, never, never starting from their very first budget."

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Bill 14% is not the alcohol content of that wine. It's your poll number

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perceptions_now

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Re: $19B deficit?....add another $8B to it pls
Reply #1 - Jul 26^th, 2013 at 11:27pm

Maqqa wrote on Jul 26^th, 2013 at 10:51pm:

http://au.news.yahoo.com/latest/a/-/latest/18164803/labor-razor-gang-faces-dilem...

The Federal Government is facing a budget dilemma,
with the ABC learning revenues are around $8 billion lower than the May budget predicted.

The Government's razor gang met this morning to debate whether to implement painful budget cuts before the election or delay the return to surplus, currently scheduled for 2016-17.

The budget is in a tough position with the mining tax underperforming and revenue from other taxes also lower than expected.

Treasurer Chris Bowen today said Australia was also facing "dramatic reductions" in its terms of trade, but reaffirmed the intention to return to surplus on schedule.

The Government has got decisions to make on any potential cuts, but insiders insist the easy cuts have all already been made.

One Labor source questioned whether the Government should cause budget pain for the public at a time when Labor is just starting to perform better in the polls.

The Government will release its fiscal update next week, and Treasury will release its own accounting, the pre-election fiscal outlook (PEFO), early in the election campaign.

Earlier Friday, Opposition treasury spokesman Joe Hockey questioned the motives for the release of the Government's fiscal update so close to the PEFO.

"Why is the Government releasing a comprehensive economic statement just a few days before the pre-election fiscal outlook? It is about trying to bully the Treasury into a fixed set of numbers," he said.

Mr Hockey questioned the independence of Treasury by saying the Coalition would not rely on its figures to frame its policy costings because they could not be trusted.

That was despite earlier in the year saying "the only numbers than we can rely on are the PEFO numbers released by the heads of department during the course of the election campaign".

Mr Hockey now says every time the Government publishes budget figures they are "dead-set wrong".

He says the Coalition will instead base its policy costings on figures from the Parliamentary Budget Office, state Coalition governments and independent advisers.

The Treasurer has rejected Mr Hockey's assertions about Treasury's independence.

"It is an insult not to me but to the Treasury and the Department of Finance, and I am sick and tired of the Opposition trashing the reputation of Australia's public servants," Mr Bowen said.

Opposition Leader Tony Abbott has backed his treasury spokesman.

"Joe was making the point that figures from this Government have never turned out to be true; never, never, never starting from their very first budget."

No sh!t Sherlock!

Pity is, that you, the Liberals & Labor, NONE OF YOU HAVE AY IDEA OF THE CAUSE, LET ALONE WHAT YOU SHOULD HAVE DONE OVER THE LAST 40-50 YEARS, NOR WHAT YOU SHOULD DO OVER THE NEXT 40-50 YEARS!!!

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matty Gold Member Offline Australian Politics Posts: 11055 East Sydney Gender:	Re: $19B deficit?....add another $8B to it pls Reply #2 - Jul 27^th, 2013 at 12:09am People need to realise that only the Coalition can effectively manage economy. Which party was it that repayed the $96 billion of debt they inherited, and left their successors with a surplus of $22 billion, which would then only be wasted on failed schemes like the BER and home insulation disaster?
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: $19B deficit?....add another $8B to it pls Reply #3 - Jul 27^th, 2013 at 7:54am Im a big fan of a decade long recession with the accompanying mass unemployment and collapsing economy.. That would be a much better option than issuing govt bonds.. Yep...Mr Abbotts Arts Degree means he's a bloody genius..."would you like fries with that?"
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cods

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Re: $19B deficit?....add another $8B to it pls
Reply #4 - Jul 27^th, 2013 at 7:59am

perceptions_now wrote on Jul 26^th, 2013 at 11:27pm:

Maqqa wrote on Jul 26^th, 2013 at 10:51pm:

http://au.news.yahoo.com/latest/a/-/latest/18164803/labor-razor-gang-faces-dilem...

The Federal Government is facing a budget dilemma,
with the ABC learning revenues are around $8 billion lower than the May budget predicted.

The Government's razor gang met this morning to debate whether to implement painful budget cuts before the election or delay the return to surplus, currently scheduled for 2016-17.

The budget is in a tough position with the mining tax underperforming and revenue from other taxes also lower than expected.

Treasurer Chris Bowen today said Australia was also facing "dramatic reductions" in its terms of trade, but reaffirmed the intention to return to surplus on schedule.

The Government has got decisions to make on any potential cuts, but insiders insist the easy cuts have all already been made.

One Labor source questioned whether the Government should cause budget pain for the public at a time when Labor is just starting to perform better in the polls.

The Government will release its fiscal update next week, and Treasury will release its own accounting, the pre-election fiscal outlook (PEFO), early in the election campaign.

Earlier Friday, Opposition treasury spokesman Joe Hockey questioned the motives for the release of the Government's fiscal update so close to the PEFO.

"Why is the Government releasing a comprehensive economic statement just a few days before the pre-election fiscal outlook? It is about trying to bully the Treasury into a fixed set of numbers," he said.

Mr Hockey questioned the independence of Treasury by saying the Coalition would not rely on its figures to frame its policy costings because they could not be trusted.

That was despite earlier in the year saying "the only numbers than we can rely on are the PEFO numbers released by the heads of department during the course of the election campaign".

Mr Hockey now says every time the Government publishes budget figures they are "dead-set wrong".

He says the Coalition will instead base its policy costings on figures from the Parliamentary Budget Office, state Coalition governments and independent advisers.

The Treasurer has rejected Mr Hockey's assertions about Treasury's independence.

"It is an insult not to me but to the Treasury and the Department of Finance, and I am sick and tired of the Opposition trashing the reputation of Australia's public servants," Mr Bowen said.

Opposition Leader Tony Abbott has backed his treasury spokesman.

"Joe was making the point that figures from this Government have never turned out to be true; never, never, never starting from their very first budget."

No sh!t Sherlock!

Pity is, that you, the Liberals & Labor, NONE OF YOU HAVE AY IDEA OF THE CAUSE, LET ALONE WHAT YOU SHOULD HAVE DONE OVER THE LAST 40-50 YEARS, NOR WHAT YOU SHOULD DO OVER THE NEXT 40-50 YEARS!!!

hey perc?.... has your life worked out exactly as you planned it 40/50 years ago?????..

I am not sure how anyone plans for "earthquakes".that may or may not happen in their lives.. but you must have done.

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cods Gold Member Offline Australian Politics Posts: 88048	Re: $19B deficit?....add another $8B to it pls Reply #5 - Jul 27^th, 2013 at 8:00am these BLACK HOLES they keep finding.. who exactly do we blame then?.. I see where our treasurer is defending his public servants..LOL>. so who is to blame for this massive error.. Bowen??
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cods Gold Member Offline Australian Politics Posts: 88048	Re: $19B deficit?....add another $8B to it pls Reply #6 - Jul 27^th, 2013 at 8:01am I mean the budget was only in May???
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John Smith Gold Member Offline Australian Politics Posts: 75162 Gender:	Re: $19B deficit?....add another $8B to it pls Reply #7 - Jul 27^th, 2013 at 8:12am so Abbott will have no problem debating the issue with Rudd then? He can share his opinions and the benefit of his knowledge.
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Kat Gold Member Offline Socialism IS the answer. Posts: 17709 Everywhere and no-where Gender:	Re: $19B deficit?....add another $8B to it pls Reply #8 - Jul 27^th, 2013 at 8:15am Honestly, I NO LONGER LISTEN when conservatives talk about the economy. They either genuinely have no idea, or are deliberately lying.
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adelcrow

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Re: $19B deficit?....add another $8B to it pls
Reply #9 - Jul 27^th, 2013 at 8:16am

John Smith wrote on Jul 27^th, 2013 at 8:12am:

so Abbott will have no problem debating the issue with Rudd then?

He can share his opinions and the benefit of his knowledge.

An economic genius like Tony Abbott shouldn't be afraid of debating a little nerd like Kevin O'Heaven..
Sssoooo..why is Abbott afraid of a debate on the economy?

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Go the Bunnies

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Dnarever

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Re: $19B deficit?....add another $8B to it pls
Reply #10 - Jul 27^th, 2013 at 10:52am

What do we thing that dropping revenue will do to projected targets ??

And what do we think the budget impact will be from Abbotts over $100 Billion of unfunded spending before considering his unfunded plan to build multiple cities in the far north is considered all occurring with a dwindling income base?

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« Last Edit: Jul 27^th, 2013 at 10:59am by Dnarever »

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cods

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Re: $19B deficit?....add another $8B to it pls
Reply #11 - Jul 27^th, 2013 at 11:02am

Dnarever wrote on Jul 27^th, 2013 at 10:52am:

What do we thing that dropping revenue will do to projected targets ??

dna are you not shocked we or someone had no idea this is whats happening????...

think about it.. now the deficit is $28bn..the drop in revenue has been staring us in the face for a long long time.. it hasnt just happened..

and I dont believe our public servants have had their heads buried in the sand either..

someone has been fudging....

let me see who would be low enough to do that?????????????????????

is there an election coming??? I havent heard

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cods

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Re: $19B deficit?....add another $8B to it pls
Reply #12 - Jul 27^th, 2013 at 11:08am

adelcrow wrote on Jul 27^th, 2013 at 8:16am:

John Smith wrote on Jul 27^th, 2013 at 8:12am:

so Abbott will have no problem debating the issue with Rudd then?

He can share his opinions and the benefit of his knowledge.

An economic genius like Tony Abbott shouldn't be afraid of debating a little nerd like Kevin O'Heaven..
Sssoooo..why is Abbott afraid of a debate on the economy?

why on earth would anyone want to debate a psycho.. the man couldnt lie straight in bed...

look at the crap ad he is doing...telling everyone we are heaps better off than everyone else...hahahah..

he forgets we haven t had any hardship like Europe..he forgets export tripled..he forgets we were basically untouched by the GFC..thanks to China.

its a riot...he doesnt mention the magnificent DEBT he has racked up for us...

and the mess of the BOAT PEOPLE... did he tell us how much he has promised PNG... of course not..why because he doesnt know.. its all been cobbled together...

no Tony stay away from him... he can lie and look straight in the camera whilst he does it.. a conman./. one of the best I grant you.

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Dnarever

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Re: $19B deficit?....add another $8B to it pls
Reply #13 - Jul 27^th, 2013 at 11:13am

adelcrow wrote on Jul 27^th, 2013 at 8:16am:

John Smith wrote on Jul 27^th, 2013 at 8:12am:

so Abbott will have no problem debating the issue with Rudd then?

He can share his opinions and the benefit of his knowledge.

An economic genius like Tony Abbott shouldn't be afraid of debating a little nerd like Kevin O'Heaven..
Sssoooo..why is Abbott afraid of a debate on the economy?

Would it be because he is depending on misleading people and telling lies about the state of our economy and he really can not defend what he has been getting away with?

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corporate_whitey Gold Member Offline Australian Politics Posts: 8896 Archivist	Re: $19B deficit?....add another $8B to it pls Reply #14 - Jul 27^th, 2013 at 11:33am Its hi time the moral majority had a say in the running of this country instead of the liberal and libertarian right wing organized crime networks...
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