perceptions_now
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Australian Politics
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Perth WA
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longweekend58 wrote on Aug 20 th, 2013 at 7:53pm: perceptions_now wrote on Aug 20 th, 2013 at 7:41pm: longweekend58 wrote on Aug 20 th, 2013 at 7:16pm: adelcrow wrote on Aug 20 th, 2013 at 6:54pm: Dsmithy70 wrote on Aug 20 th, 2013 at 6:48pm: longweekend58 wrote on Aug 20 th, 2013 at 6:42pm: adelcrow wrote on Aug 20 th, 2013 at 6:30pm: Hockey has again been caught out using net debt figures when referring to the Coalitions past budgets and gross debt when referring to Labors budgets. Yep ..just what we need... another mean and tricky Coalition govt  and net debt makes it look better?? $200B net debt vs $0? Yeah not the point. Just tell the smacking truth. Over 80 billion dollars of debt left by the Howard govt is closer to the truth..0 debt is a lie the facts don't support that however.. but you never let that get in the way, do you? But ironically here you are doing EXACLTY what you deride Hockey for doing. idiot.
In fact, the Howard Libs left a Gross Debt of about $60 Billion and their NET Debt was actually a Credit of about $45 Billion, when they left office.
The current Gross Debt is about $260 Billion & Net Debt is about $144 Billion.
And, before those on both sides start their SPIN, it should be noted that -
1) The Howard years (1996-2007) were Peak Global Economic years , due to the Baby Boomer Boom.
Whilst these were Peak Economic years, credit should go to the Libs, as they clearly out performed most other Politicians from around the world, who did little to nothing to take advantage of the Boom times.
That said, quite a bit of the Libs Debt pay-down of Debt did come from asset sales AND they sold a whole bundle of gold at around $250 a ton, which is now worth around $1,400 a ton.
2) The Labor years (2007-2013) have seen the GFC commence, which is 2nd only to the great Depression & it is certainly far from over.
Whilst Labor has had a torrid Global Economy, they haven't gone overboard with increasing Debt, as did many other countries, BUT they certainly did create a few sizable errors (cock-ups), along the way!
It is appropriate that, Politicians from both major party's should be forced to use factually correct information!
Perhaps, IF they fail to do so, THEN THEY COULD BE SENT TO THE "NAUGHTY CHAIR" FOR A WEEK AS PUNISHMENT? it should be noted that he $144B net debt is a figure from a year ago and is likely top be notably higher. After all, those deficits don't fund themselves. Anyhow, using these net figures the picture is an embarrassment of epic proportions. $45B in the bank in cash and a mere 6 years later we are $200B+ worse off. It is hard to look at that as anything other than an epic fail. That is correct, the $144 Billion figure was the last official figure that I recall, from 30/06/2012.That would be incorrect! When viewed with the relevant Economic times & the absolute disasters incurred by most other countries, Australia has held up reasonably well, thanks both to the Libs & Labor, although both could have & should have, done better!
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