Australian Politics Forum - Australia Not In The Midst Of Budget Crisis.

aquascoot

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #15 - Apr 24^th, 2014 at 9:20am

We probably are in the midst of a budget crisis.

labor added some very very big costs to the treasury.

NDIS $10 bill a year
Gonski $10 bill a year
NBN $ 70 bill

Tone has been no better

Direct action Billions
PPL Billions
Jets Billions.

Now all this would be ok if productivity was rising.
But its not.
Add 10 % growth in hospital costs p.a.
A slowing mining sector due to chinese stockpiling of resources
An ageing demographic who will have the voting power to assure grey taxes are a political no no.
A very big deficit due to rudd/Gillard and the interest bill on this.

There are virtually no positives.

What is important is to not put the burden on the productive elements of society
small business
farmers
miners.

This, of course, is exactly what will happen Wink

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Prime Minister for Canyons Gold Member Offline Australian Politics Posts: 26906 Canberra Gender:	Re: Australia Not In The Midst Of Budget Crisis. Reply #16 - Apr 24^th, 2014 at 9:29am Actually we should be sharing the burden around equally, so that all parts contribute to the solution. At the moment, we do not do that.
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longweekend58

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #17 - Apr 24^th, 2014 at 9:42am

Kat wrote on Apr 24^th, 2014 at 9:00am:

longweekend58 wrote on Apr 24^th, 2014 at 8:55am:

John Smith wrote on Apr 24^th, 2014 at 8:20am:

Budget emergency my butt

scrap the $12 B on planes that don't fly .... there's $12B
scrap the tax benefits to super ................ another $13B
scrap handouts to mining /energy sector ..... another $5B

thats $30 Billion saved just there ... I'm sure if I went through the budget they'd be a lot more

the government is being run by cretins who are only looking to line their own pockets or protect their own future interests

OR

you could cut the dole
get rid of single-parent welfare
get rid of income supplements

there is more than enough there to cover the deficit.

See, I can choose expenditures that don't affect me too!

Why does that not surprise me, coming from you?

You've always been pro-wealthfare and anti-welfare.

quite the contrary. The problem is that you see everything thru the one biased eye in your head. If someone supports a policy position you disagree with you then assume thy disagree with you on everything. That is why you are so mocked on here.

If you had half a brain you would have seen SATIRE in my response.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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longweekend58

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #18 - Apr 24^th, 2014 at 9:44am

OldnCrusty wrote on Apr 24^th, 2014 at 9:08am:

longweekend58 wrote on Apr 24^th, 2014 at 8:55am:

you could cut the dole
get rid of single-parent welfare
get rid of income supplements

And have major social disruption and disorder that will have a negative effect on the country for 20 + years, and cause a recession. Excellent Roll Eyes

.

And of course you will continue with corporate and middle and upper class welfare and subsidies for inefficient industries. Excellent Roll Eyes

.

Try a full quote next time AND read the last line. There might be a clue there to my meaning

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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longweekend58

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #19 - Apr 24^th, 2014 at 9:44am

mantra wrote on Apr 24^th, 2014 at 9:20am:

Abbott is running a fear campaign. It's what he's been taught and knows how to do well.

These new austerity measures are to prepare us for a serious drop in our wages and living standards pushed along by the signing of the recent FTA's and the proposed one with China.

Abbott thinks by stripping away the security of much of the population we'll accept lower wages and pensions and be grateful for whatever we can get. Not a bad idea in theory, but there's going to be a serious backlash.

Gillard shouldn't have given into the protests of the people when she tried to reduce services or cut back on the welfare which Howard had so generously introduced when he was pork-barreling for an election.

Abbott will get the support from the big inter/national corporations for these stringent new measures. If we complain - then they'll just import thousands more 457 visa workers. As these imports will no longer be regulated - we'll have to compete with them or become beggars.

Quote:

457 visa workers exploited at Rinehart's Roy Hill

The Federal Government is being asked to investigate claims that 457 work visas are being abused at Gina Rinehart's $10 billion Roy Hill iron ore project in the Pilbara.

http://www.abc.net.au/news/2014-04-04/cfmeu-alleges-457-visa-workers-exploited-b...

why must every one of your posts be little more than strident anti-abbott bashing and exaggeration dosed liberally with lies?

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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longweekend58

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #20 - Apr 24^th, 2014 at 9:47am

aquascoot wrote on Apr 24^th, 2014 at 9:20am:

We probably are in the midst of a budget crisis.

labor added some very very big costs to the treasury.

NDIS $10 bill a year
Gonski $10 bill a year
NBN $ 70 bill

Tone has been no better

Direct action Billions
PPL Billions
Jets Billions.

Now all this would be ok if productivity was rising.
But its not.
Add 10 % growth in hospital costs p.a.
A slowing mining sector due to chinese stockpiling of resources
An ageing demographic who will have the voting power to assure grey taxes are a political no no.
A very big deficit due to rudd/Gillard and the interest bill on this.

There are virtually no positives.

What is important is to not put the burden on the productive elements of society
small business
farmers
miners.

This, of course, is exactly what will happen Wink

to be fair, DA hasn't passed and probably wont. PPL hasn't passed and in its current form wont. and the jets have been planned for a decade.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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buzzanddidj

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #21 - Apr 24^th, 2014 at 9:47am

Swagman wrote on Apr 24^th, 2014 at 9:17am:

Kat wrote on Apr 24^th, 2014 at 8:52am:

Swagman wrote on Apr 24^th, 2014 at 8:49am:

Quote:

Opposition finance spokesman Tony Burke rubbished the treasurer's bleak portrait of the budget.

"Countries that have triple-A credit ratings are not in the midst of a budget crisis," Mr Burke told ABC Radio on Thursday.

What an idiot Burke is.

This is one reason these stupid Labor R-soles should never be in Govt.

Risk ratings are about ability to service debts. If you don't balance the books you are eventually going to be insolvent and the rating will sink.

The tripple A was won by the Howard Govt. Labor did their level best to trash it.

That is an out-and-out mistruth.

Burke is correct, you are not.

Really El Katto.

Feel free to elaborate on your Laborite propaganda... Huh

Fitch upgrades Australia's credit rating

Tue 29 Nov 2011, 3:17pm AEDT

Ratings agency Fitch has awarded Australia its top sovereign credit rating,
the first time Australia has been AAA rated by all three agencies.

The US agency upgraded Australia's key credit rating to AAA from AA+, making Australia one of just 15 countries to hold the top rating.

The long-term foreign-currency issuer default rating shows Australia's ability to repay foreign debt and is used to compare between different countries.

Fitch also says its outlook for Australia was "stable".

Standard and Poor's gave Australia its top rating in 2003, while Moody's was the first to upgrade its rating, in 2002.

The Fitch upgrade reflects Australia's fundamental credit strengths including its "high value-added economy" and "flexible policy framework", said Fitch Asia Sovereign ratings group director Art Woo.

"The combination of low public debt, a freely floating exchange rate, a credible inflation target framework, and liberal trade and labour markets provides Australian authorities the flexibility to run strong counter-cyclical fiscal and monetary policies during both economic downturns and upturns," Mr Woo said.

Fitch says achieving a budget surplus and improving net financial worth would bolster the outlook for Australia's credit rating.

HSBC chief economist for Australia and New Zealand Paul Bloxham says the rating is a reminder that Australia's sovereign finances are in a strong position, "particularly against the backdrop of the current global sovereign problems".

"Sound fiscal policy and low government debt will help to affirm Australia's ability to service its net foreign borrowing requirement in part via a strong sovereign rating," Mr Bloxham said.

http://www.abc.net.au/news/2011-11-29/fitch-rating-australia/3701752

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« Last Edit: Apr 24^th, 2014 at 9:55am by buzzanddidj »

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Your Christians are so unlike your Christ.'

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mantra

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #22 - Apr 24^th, 2014 at 9:55am

Prime Minister for Canyons wrote on Apr 24^th, 2014 at 9:29am:

Actually we should be sharing the burden around equally, so that all parts contribute to the solution. At the moment, we do not do that.

It will never be equal. Wealthy people with businesses generate wealth and can afford to employ people so they're entitled to more benefits.

We are just the serfs and of no more value than an imported worker, in fact we're of less value if we don't work. What we have now will need to be shared with a lot more people shortly. Abbott is spending like a drunken sailor and taking a huge gamble and we have to pay for it.

The Abbott government has doubled our debt already so we should be fearful.

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Swagman

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #23 - Apr 24^th, 2014 at 9:56am

Get your hand off it.... Huh

You don't pull a Tripple A rating out of your bum in 5 minutes. It takes years of historical performances and historical analysis.

The rating was won by having a robust economy with declining unemployment, low inflation, low Govt debt and a very strong financial sector. Huh

All these things were established by the Howard Govt and not at all by Rudd or Gillard.

It took 10 years to pay off Keating's debt and 5 minutes for Labor to run it back up again and tripple it.

Costello established APRA. Probably the single most significant economic reform that protected Australia from the worst of the GFC.

Burke is an absolute idiot for trying to steal Costello's thunder.

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Grendel

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #24 - Apr 24^th, 2014 at 9:57am

longweekend58 wrote on Apr 24^th, 2014 at 9:47am:

aquascoot wrote on Apr 24^th, 2014 at 9:20am:

We probably are in the midst of a budget crisis.

labor added some very very big costs to the treasury.

NDIS $10 bill a year
Gonski $10 bill a year
NBN $ 70 bill

Tone has been no better

Direct action Billions
PPL Billions
Jets Billions.

Now all this would be ok if productivity was rising.
But its not.
Add 10 % growth in hospital costs p.a.
A slowing mining sector due to chinese stockpiling of resources
An ageing demographic who will have the voting power to assure grey taxes are a political no no.
A very big deficit due to rudd/Gillard and the interest bill on this.

There are virtually no positives.

What is important is to not put the burden on the productive elements of society
small business
farmers
miners.

This, of course, is exactly what will happen Wink

to be fair, DA hasn't passed and probably wont. PPL hasn't passed and in its current form wont. and the jets have been planned for a decade.

Well that's pretty right.
I hope DA gets through some action on the environment is necessary.
A tax won't stop the global warming boogie man.
The PPL is funded by a levy on big business, offset by a cut in company tax.
The jets have already been allocated funds by the last government, we are, as a country, part of the JSF project.

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longweekend58

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #25 - Apr 24^th, 2014 at 10:03am

mantra wrote on Apr 24^th, 2014 at 9:55am:

Prime Minister for Canyons wrote on Apr 24^th, 2014 at 9:29am:

Actually we should be sharing the burden around equally, so that all parts contribute to the solution. At the moment, we do not do that.

It will never be equal. Wealthy people with businesses generate wealth and can afford to employ people so they're entitled to more benefits.

We are just the serfs and of no more value than an imported worker, in fact we're of less value if we don't work. What we have now will need to be shared with a lot more people shortly. Abbott is spending like a drunken sailor and taking a huge gamble and we have to pay for it.

The Abbott government has doubled our debt already so we should be fearful.

it is that kind of stupidity and blatant lies that make you look so stupid.

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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."

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aquascoot

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #26 - Apr 24^th, 2014 at 10:08am

longweekend58 wrote on Apr 24^th, 2014 at 9:47am:

aquascoot wrote on Apr 24^th, 2014 at 9:20am:

We probably are in the midst of a budget crisis.

labor added some very very big costs to the treasury.

NDIS $10 bill a year
Gonski $10 bill a year
NBN $ 70 bill

Tone has been no better

Direct action Billions
PPL Billions
Jets Billions.

Now all this would be ok if productivity was rising.
But its not.
Add 10 % growth in hospital costs p.a.
A slowing mining sector due to chinese stockpiling of resources
An ageing demographic who will have the voting power to assure grey taxes are a political no no.
A very big deficit due to rudd/Gillard and the interest bill on this.

There are virtually no positives.

What is important is to not put the burden on the productive elements of society
small business
farmers
miners.

This, of course, is exactly what will happen Wink

to be fair, DA hasn't passed and probably wont. PPL hasn't passed and in its current form wont. and the jets have been planned for a decade.

Gillard/rudd/swan spent what they didn't have.
I totally support abbotts commission of audit and I hope he shares the pain around.
Society need to "man up" and that includes pensioners,workers and the rich.
But , it is a backward step to not recognise that the ONLY POSSIBLE long term solution is more autonomy for the wealth creators, less regulation and enabling the wealth creators to "grow the pie"

Its why I have a zero tolerance attitude to jealous green eyed lefties who just scream "tax the rich"
They simply have not recognised how an economy works.
The greens are the worst, by far, at this game. maybe they are more green with jealousy then green with environmentalism

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ian Gold Member Offline OzPolitic Posts: 9451	Re: Australia Not In The Midst Of Budget Crisis. Reply #27 - Apr 24^th, 2014 at 10:14am whats wrong with you people. How on earth can the Liberals buy votes by increasing middle class welfare before the next election without cutting costs now? Where will the money come from?
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buzzanddidj

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #28 - Apr 24^th, 2014 at 10:32am

Quote:

Shadow assistant treasurer Andrew Leigh accused Mr Hockey of playing political games with the budget, after blocking the previous Labor government's savings measures when in opposition.

The treasurer should acknowledge the fiscal impact of coalition decisions to scrap measures such as the mining and carbon taxes, he said.

"What we've got now from Joe Hockey is really the shadow treasurer in drag," Dr Leigh told ABC Radio.

VERY smart fella

Quote:

Leigh's early years of education were in Sydney, Melbourne, Malaysia and Indonesia, before receiving secondary education at James Ruse Agricultural High School in Sydney, New South Wales.

Leigh holds a BA(Hons) and LLB(Hons) from the University of Sydney, and an MPA and PhD from the Kennedy School of Government at Harvard University.

He has published over 50 journal articles in the disciplines of economics, public policy and law, and over 100 opinion pieces.

His research findings have been discussed in The Australian, The Australian Financial Review, Christian Science Monitor, The Economist, New York Times, The Sydney Morning Herald, Time, Wall Street Journal and Washington Post.

Prior to entering politics, Leigh was a professor in the Research School of Economics at the Australian National University.

His research was in the fields of labour economics, public finance, and political economy.

He has also previously worked as a lawyer for Minter Ellison (Sydney) and Clifford Chance (London), and as Associate to Justice Michael Kirby of the High Court of Australia.

He has also worked as a researcher for UK Solicitor General Ross Cranston, as senior trade adviser to the late Senator Peter Cook, and as a research fellow with the Progressive Policy Institute (Washington, D.C.)

I'd expect him to be the Federal Treasurer, at some point

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'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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aquascoot

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Re: Australia Not In The Midst Of Budget Crisis.
Reply #29 - Apr 24^th, 2014 at 10:54am

buzzanddidj wrote on Apr 24^th, 2014 at 10:32am:

Quote:

Shadow assistant treasurer Andrew Leigh accused Mr Hockey of playing political games with the budget, after blocking the previous Labor government's savings measures when in opposition.

The treasurer should acknowledge the fiscal impact of coalition decisions to scrap measures such as the mining and carbon taxes, he said.

"What we've got now from Joe Hockey is really the shadow treasurer in drag," Dr Leigh told ABC Radio.

VERY smart fella

Quote:

Leigh's early years of education were in Sydney, Melbourne, Malaysia and Indonesia, before receiving secondary education at James Ruse Agricultural High School in Sydney, New South Wales.

Leigh holds a BA(Hons) and LLB(Hons) from the University of Sydney, and an MPA and PhD from the Kennedy School of Government at Harvard University.

He has published over 50 journal articles in the disciplines of economics, public policy and law, and over 100 opinion pieces.

His research findings have been discussed in The Australian, The Australian Financial Review, Christian Science Monitor, The Economist, New York Times, The Sydney Morning Herald, Time, Wall Street Journal and Washington Post.

Prior to entering politics, Leigh was a professor in the Research School of Economics at the Australian National University.

His research was in the fields of labour economics, public finance, and political economy.

He has also previously worked as a lawyer for Minter Ellison (Sydney) and Clifford Chance (London), and as Associate to Justice Michael Kirby of the High Court of Australia.

He has also worked as a researcher for UK Solicitor General Ross Cranston, as senior trade adviser to the late Senator Peter Cook, and as a research fellow with the Progressive Policy Institute (Washington, D.C.)

I'd expect him to be the Federal Treasurer, at some point

Yes, well, he seems to have spent a lot of time attending lectures (given by economists who hang out in universities because they couldn't cut it in the "real" economy.)
I'd be more impressed if he had run a business or two successfully

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