Woo boy, what a cascade of rubbish we are getting from the Lib fanbois here!

Firstly, Hokey and the simian knew the state of the books before the election: the 13/14 Budget, MYEFO, PEFO. As someone said—one good thing Costello did, Charter of Budget Honesty.

So the promises before the election were made in full knowledge of the state of the books. The Audit was a worthless waste of time and definitely not an audit.

The debt we have is small. If it was a real worry we would not have had the 9As reconfirmed recently.

Most of the debt is due to Costello (and Rudd/Swan contributed one cut) cutting income tax too much. We have a revenue problem not a spending problem. The spending is supporting the economy. Gillard/Swan tried fiscal consolidation, i.e. cutting spending but thankfully gave up getting a surplus as the fiscal consolidation was causing unemployment to increase.

There is a type of wasteful spending that can be cut without affecting private sector spending—those tax expenditures, those asset millionaire getting full or part Old Age Pension.

Just think on that last bit—Boomers are retiring, the Old Age Pension is going to balloon out yet we are paying the pension to people owning their own home PLUS a million dollars in assets! Crazy! Weed out all that rubbish—the Budget will be $75Bn the better! $75Bn! Enough to boost NewStart and the Old Age Pension which will boost massively private sector spending.

The reason for the deficits has been revenue weakness. The Treasury estimates for each Budget were out as revenue was weaker than expected. That is because Costello cut income tax too much. So the “levy” needs to be increased and made permanent.

Making people work until they are 70 is just going to see record numbers go on the DSP.

John Smith wrote on May 5^th, 2014 at 8:22am:



As a farmer, this makes very good sense.
unfortunately, why would you work hard and store hay , when those useless socialist rats and other vermin are going to be the beneficiaries

St George of the Garden wrote on May 5^th, 2014 at 8:16am:



Rubbish George, we have a spending problem.
All of these "structural ' things
health
NDIS
pensions
super concessions

are growing at levels much above the growth in GDP.
hospital costs are growing at 10 %, and the pensioners are starting to bulge the curve even more in terms of demanding these services.

We also had one of the worlds highest rates of debt growth , coming off a very low level.
This low level was totally thanks to Costello.

Stop bagging Costello.
His track record is like black caviars...winner after winner.
Lets look at swans,  a total f^^king disgrace.
Should have been sent to the dog meat factory after his first 2 years.
Only the international socialists would give such a clown an award.  Oh , that's right , they did

Costello spent like a drunken sailor! He paid for tax cuts with asset sales and a boom. Booms never, ever last. He was a FAILURE as Treasurer! He did not get the 9As, he did not get FM of the year and to prove it even more—he did not get that high paying job in private industry. Industry knows what a failure he was. Until you and other Libs recognise that you cannot manage the economy! With the private sector still heavily indebted radical measures will just see private sector spending slump. That will cause more unemployment and so more paid out as NewStart, less income tax coming in—and a HIGHER deficit!

The revenue projected for each Budget in the last few years, including Hokey’s, proved over optimistic. Time therefor to beef up revenue and cut the last, HUGE chunks of Howard’s irresponsible spending and while we are at it: remove negative gearing.

Cut the wasteful Howardista spending and NDIS etc can easily be afforded. And the need for NDIS is urgent—boomer parents caring for adult disabled children cannot cope for much longer! Gonski will boost our productivity, innovation and the like. Build the NBN and boost productivity, GDP, jobs and exports.

Kat wrote on May 5^th, 2014 at 9:11am:


because without it, their ideology is easily proven to be a scam ... they need socialism to justify their own positions.

St George of the Garden wrote on May 5^th, 2014 at 9:32am:


its sim,ple ... tax cuts = votes, company tax cuts = donations ... asset sales and service cuts = a big bugger u, but thats ok because we can buy back the votes with another tax cut before the next election

You don’t get pensions in Korea I'll bet.

The Scandinavians survived the GFC quite well. the Swedes have a right wing PM who wants to transform the economy but we are yet to see how successful he will be or how the economy reacts.

I am talking about Australia. I also think you don’t know the top tax rate.

What a lunatic! FFS, how long are the Libs going to put up with him? Not that there are a lot of choices for a successor but Hokey or Turncoat would be presentable figureheads.