Just thought I might *smack myself upside of head* in regards to the debt/deficit/money timebomb we will have to pay back. If 16 billion a year in INTEREST COMPONENT doesn't frighten you then I don't know what will. That is an awful lot of schools and hospitals going up in compound interest. (this would be the overdraft I was referring to in previous post)
Now let's look at the nett result of this spendathon of the Labor Govt. This Govt is borrowing this money from offshore right? The same place as the banks get it from and sell it to us nupties right? The Govt gets the good funds rate due to it's AAA rating so therefore the banks get a slightly higher rate which they pass onto us. If you follow this train of thought then the Govt is responsible for pushing up interest rates due to wholesale funding costs increasing due to the Govt soaking up the available funds at a rate of 100 million dollars a day. (this would be the bank manager I referred to in previous post)
But wait there is more. The Govt then spends this money stimulating the economy which in turn drives up wages. On the 4th June 2010 the "low paid workers" received an extra $26 per week. You cannot employ casual workers for less than a 3 hour shift due to changes under "Fair Work" policies either. This increases inflation (REAL INFLATION) not the seasonally adjusted hidden under the carpet Govt paper peddling. (this would be the union wage claims I referred to in previous post)
Fill in the blanks here and draw your own conclusions.
Yes the Liberals agreed to the "stimulus packages" for Round 1. Round 2 and 42 billion they did not agree with. They only wanted to spend 15 billion and not on pink batts and school halls and the third lot of $900 cheques.
I could go on but I am sure the FACTS would only be polluted by some acne faced college graduate with no life experience or political nouse.
Consider myself *smacked upside head* appropriately.