The Abbott Government

[DB008]

HAHAHAHA

The budget CRISIS and so far the only action being taken by the Treasure Hockey Ponzinomics is to have a 66% increase in the debt ceiling. One has to wonder why? Got any ideas GG?

What are you saying?

The Libs got into some ~$265-Billion debt, within a month?

ALP have been on a sailors wet dream, coming in from a 6 month deployment, up the 'cross spending money like no tomorrow on booze and hookers...

 

[Garpal Gumnut]

Syd,

The ALP have left our finances in such dire straits, I would not be surprised at any endeavours taken to balance our books and budget.

Lower cost of living is the aim.

Inflation is the danger.

gg

 

[MrBurns]

ALP have been on a sailors wet dream, coming in from a 6 month deployment, up the 'cross spending money like no tomorrow on booze and hookers...

Literally.........

 

[CanOz]

What are you saying?

The Libs got into some ~$265-Billion debt, within a month?

ALP have been on a sailors wet dream, coming in from a 6 month deployment, up the 'cross spending money like no tomorrow on booze and hookers...

All the Labor Party voters will be quick to forget the ALPs debt spend and then blame the Liberal party no matter what. The same thing happened with the Rebloodlicans blaming the democrats after GWB spent a record amount on unnecessary wars so his mates could get rich building munitions.

How much do y'all wanna bet that in 12 months time the entire Australian deficit will be blamed squarely on the Liberals?

What the hell....They're all crooks...:frown:

 

[Whiskers]

From where I sit, it wasn't pointless personal ridicule at all; it seemed to me more like selfless altruism, trying save you the embarrassment of spouting untenable nonsense that serves only your self-delusion of... whatever it is you think you are.

It is the same motivation as me. I am truly and genuinely concerned for you Whiskers. :

No need for concern as I have been vindicated about the most contentious issue, that has been officially confirmed today... that the army started the biggest fire a week ago on a live fire range. A few houses were lost, considerable resources were diverted to that fire and is still burning uncontrolled. If I was able to find out last weekend that the army was implicated, Abbott should also have been aware before he set off on his cynical good citizen firey excursion. Not a good look Tony!

An angry Blue Mountains mayor wants answers from the Department of Defence after it emerged army explosives training started the massive State Mine bushfire which has stalked his community for a week. http://news.ninemsn.com.au/national/2013/10/23/18/26/defence-admits-starting-nsw-fire-report​

Why wasn't the army properly prepared for any fire as a consequence of their unwise practice live fire explosive ordinance in the current conditions?

More importantly, why was Abbott AWOL from his principle duty as PM... too busy with photo shoots, pretending to be a 'good citizen' in his 'rescuer' role instead of ripping into the military for answers and some serious action to mitigate the damage they caused?

NSW Premier O'Farrell has already said the fire is going to be a considerable drain on the economy for some time. With the precarious nature of the national finances, why wasn't Abbott of a similar mind and action?

 

[Logique]

...that the army started the biggest fire a week ago on a live fire range...

There will always be ignition sources Whiskers. What comes before, and afterwards, is the point.

The ABC says it's climate change. They think this canard will pass unnoticed, while the yellow uniforms are out trying to save lives.

 

[Garpal Gumnut]

There will always be ignition sources Whiskers. What comes before, and afterwards, is the point.

The ABC says it's climate change. They think this canard will pass unnoticed, while the yellow uniforms are out trying to save lives.

ABC is Political.

It does not represent Australians or their values.

gg

 

[MrBurns]

ABC is Political.

It does not represent Australians or their values.

gg

And it's getting worse, they are very obvious these days .

 

[sydboy007]

What are you saying?

The Libs got into some ~$265-Billion debt, within a month?

ALP have been on a sailors wet dream, coming in from a 6 month deployment, up the 'cross spending money like no tomorrow on booze and hookers...

I'm asking why Joe Hockey is requesting a 66% in the debt ceiling? IF the Liberals are such great economic managers why would they need this HUGE increase?

They've got 8 months to reduce this FY deficit, yet all that's happened in Hockey is doing his best to make the deficit bigger this year by providing the RBA with a cash injection. I'm sure in future years when the RBA makes a nice profit from a currency fall Mr Ponzinomics wont have any issues ripping out a big dividend. Howard was raking in RBA dividends of over $1B some years. In the business world that's called smoothing your profits.

As for you cross analogy, it's the Liberals so they wont be caught in the cross, they just do J class flights to eg Cairns - to pick up the keys to their new investment property.

 

[sydboy007]

Syd,

The ALP have left our finances in such dire straits, I would not be surprised at any endeavours taken to balance our books and budget.

Lower cost of living is the aim.

Inflation is the danger.

gg

That I can agree to partially. What economic actions have you seen the Liberals take, or propose to take, that makes you think they will manage the budget any better? It seems so long ago that Hockey Ponzinomics had this epiphany of the age of entitlement, but I've yet to hear even the smallest murmur that they plan to make some serious cuts to the wasteful middle class welfare. PPL is a great example of the entitlement Hockey was supposedly against.

How do you propose to lower the cost of living when our current leaders see high property prices, and the current extreme increases, as GOOD? It's the unrealistic land prices that is a major cause of the uncompetitiveness of the economy.

Compare the great state of Texas with a population HIGHER than Australia's, and yet over the last 10+ years they've had barely a real increase in property prices, with some of the highest population growth in the USA and highest income growth as well. Australia on the other hand has racked up huge amounts of debt just to keep buying and selling the same houses over and over again. Crazy, but Abbott aand Hockey don't see this as a problem.

So you believe the current deficit is at dire straits level? So what does that leave most other countries that are at or over 100% of Govt Debt to GDP levels. We have less pubic debt than China.

How many Liberal deficits will you blame on Labor? Are those who have control for 8 months of a 12 month budget more or less responsible for the final outcome? Where has the budget crisis gone to? Why are the Liberals not holding a mini budget and making cuts now to get the deficit under control? If as you say it's in dire straits why wait till May?

- - - Updated - - -

All the Labor Party voters will be quick to forget the ALPs debt spend and then blame the Liberal party no matter what. The same thing happened with the Rebloodlicans blaming the democrats after GWB spent a record amount on unnecessary wars so his mates could get rich building munitions.

How much do y'all wanna bet that in 12 months time the entire Australian deficit will be blamed squarely on the Liberals?

What the hell....They're all crooks...:frown:

Howard and Costello talked about Labors $90B of debt, yet around $30 was gifted to them by the previous Liberal Howard Govt, so seems the Liberals at least see all debt as the responsibility of the current Govt.

 

[wayneL]

That I can agree to partially. What economic actions have you seen the Liberals take, or propose to take, that makes you think they will manage the budget any better? It seems so long ago that Hockey Ponzinomics had this epiphany of the age of entitlement, but I've yet to hear even the smallest murmur that they plan to make some serious cuts to the wasteful middle class welfare. PPL is a great example of the entitlement Hockey was supposedly against.

How do you propose to lower the cost of living when our current leaders see high property prices, and the current extreme increases, as GOOD? It's the unrealistic land prices that is a major cause of the uncompetitiveness of the economy.

Compare the great state of Texas with a population HIGHER than Australia's, and yet over the last 10+ years they've had barely a real increase in property prices, with some of the highest population growth in the USA and highest income growth as well. Australia on the other hand has racked up huge amounts of debt just to keep buying and selling the same houses over and over again. Crazy, but Abbott aand Hockey don't see this as a problem.

On these two points at least, I am in agreeance with you Syd. I was very disappointed with the coalition's attitude on house prices and middle class welfare has been a burr under my saddle blanket for the longest time.

 

[Whiskers]

What economic actions have you seen the Liberals take, or propose to take, that makes you think they will manage the budget any better?

What I hope (and was led to believe) was that they would cut the waste, non-productive programs like the 'Climate Change' bureaucracy and excess expansion of the public service.

Yes, the climate change bureaucracy has got the chop... but almost everything else is deferred to 'committee'... in other words we are being softened up for a major dose of broken policy.

So you believe the current deficit is at dire straits level? So what does that leave most other countries that are at or over 100% of Govt Debt to GDP levels. We have less pubic debt than China.

High Gov debt?... big scare tactic! Oversold this argument!

Where has the budget crisis gone to? Why are the Liberals not holding a mini budget and making cuts now to get the deficit under control? If as you say it's in dire straits why wait till May?

My point also... Abbott and co OVERSOLD the budget and debt emergency to try to win office. The didn't need to exaggerate all these economic circumstances. Labor was dead in the water because of leadership issues causing instability and uncertainty... full stop.

Howard and Costello talked

So lets summarize Howard and Costello's better achievements. They cut the debt (not that the debt in itself was a catastrophe) and returned to surplus budgets.

Now the bad side: They achieved this at the cost of selling off huge amounts of public assets and LESS DISPOSABLE INCOME for most Australians.

The ALARM BELLS are ringing when the gov is unnecessarily beating up a debt ceiling issue like the US! Call me cynical, but I smell a BIG L Liberal stunt, a bit of US Tea Party style antic making huge noises about the debt crisis to GRAB peoples attention, scare people so they loose sight of what's really happening.

The reason I'm feeling betrayed by Abbott & co is because on any significant measure from charts below our total government expenditure (except under Gillard), debt and budget isn't a major concern. What is a concern is where the spending is allocated. Labor tends to over do the social welfare side and Libs over do the fiscal prudency.

What is looming as a major concern is broken budget promises and policy change that is very likely to widen the disposable personal income gap for the average citizen to favour the top end of town... the big L Liberals.

 

[Whiskers]

Yep... the great swindle is underway.

Now we know why they want a huge debt ceiling limit increase. They need more money to sweeten up some asset sales.

It's back to the Howard recipe... but only an adulterated version that is going to 'not rise' to gov popularity simply because of changed economic and sociological circumstances.

Despite the rhetoric of needing smaller government, a- la Howard and despite saying otherwise, Abbott is not going to decrease, but actually increase public spending, but from sale of public assets to feed the BIG L Liberal top end of town.

I would clarify, I don't oppose some asset sales... but this has got all the wrong sorts of smell for a poor RI for the public.

INVESTMENT banks are salivating over the government's move to assess a $4 billion float of Medibank Private, eager for roles on what would be the biggest federal privatisation float since Telstra.

After The Australian revealed the government would appoint advisers to do a scoping study on Medibank, Prime Minister Tony Abbott yesterday confirmed the plan and said Medibank would return to the private sector "at the right time".

"The only privatisation that we've got slated is Medibank Private," he told Melbourne's Radio 3AW, albeit adding "who knows what the recommendations of the Commission of Audit might be".

"It will be good for Medibank and Medibank's policy holders. Ultimately, good for taxpayers as well, but we've got to maximise the price."

While investment banks have long been hoping Medibank would come to market, the confirmation kicked off the race to win the first of potentially several roles tipped to be hotly sought by all investment banks. Work up for grabs could include the scoping study, advising the government, tending to Medibank and joint lead managing (JLMs) the float. http://www.theaustralian.com.au/bus...dvisers-circling/story-fn91wd6x-1226745578752​

 

[noco]

If the Rudd/ Gillard government including Swan/ Wong had not wasted so much in the past 6 years we would not be in the predicament we now face.

Geez I hope the Coalition have put a stop to the $900 cheques that Labor were sending out up to the election.




http://www.theaustralian.com.au/nat...ffer-for-economy/story-fn59nsif-1226745607274

 

[Garpal Gumnut]

If the Rudd/ Gillard government including Swan/ Wong had not wasted so much in the past 6 years we would not be in the predicament we now face.

Geez I hope the Coalition have put a stop to the $900 cheques that Labor were sending out up to the election.




http://www.theaustralian.com.au/nat...ffer-for-economy/story-fn59nsif-1226745607274

Too right noco.

This is a recurring theme.

ALP get in, spend like buggery on useless muck, and near nigh bankrupt the country.

Then the Coalition get caned for trying to balance the books.

People need to harden up.

Australia's budget is like a home budget.

Spend more than you earn and trouble is on the horizon.

The electorate realised this, and elected Tony Abbott and the Coalition to fix things.

gg

 

[Ferret]

Australia's budget is like a home budget.

Spend more than you earn and trouble is on the horizon.

The electorate realised this, and elected Tony Abbott and the Coalition to fix things.

gg

And I wish he would fix things. Can't see how it helps things to hand out 6 months pay to mothers and compensation to victims of terrorism attacks that happen beyond our borders ...

 

[MrBurns]

There's a lot to fix -

Ex-Reserve Bank board member Warwick McKibbin accuses Wayne Swan of economic vandalism

A former Reserve Bank board member has accused Wayne Swan, the man once judged the world's greatest treasurer, of economic vandalism

http://www.abc.net.au/news/2013-10-24/mckibbin-accuses-swan-of-economic-vandalism/5044474

Rudd's been outed as a bastard now this........as if we didn't already know.

 

[noco]

Too right noco.

This is a recurring theme.

ALP get in, spend like buggery on useless muck, and near nigh bankrupt the country.

Then the Coalition get caned for trying to balance the books.

People need to harden up.

Australia's budget is like a home budget.

Spend more than you earn and trouble is on the horizon.

The electorate realised this, and elected Tony Abbott and the Coalition to fix things.

gg

GG, I watched the ABC 7.30 report tonight and an ex RBA board member Professor Mc Gribbin (I think that is how you spell his name) expressed his opinion of Wayne Swan....It certainly was not very complimentary at all.

Swan robbed the RBA of $500 million to prop up the deficiency in his budget.

 

[sydboy007]

There's a lot to fix -


http://www.abc.net.au/news/2013-10-24/mckibbin-accuses-swan-of-economic-vandalism/5044474

Rudd's been outed as a bastard now this........as if we didn't already know.

Tax free super for those over 60 is probably the biggest piece of economic vandalism this country has seen, and that was when the over 60s made up just 155 of the population. Give it about another decade and they'll make up close to 30% of the population. Care to tell me how we can have close to 1 in 3 people in the country NOT PAYING TAX and still afford to provide all the basic services we demand???

- - - Updated - - -

If the Rudd/ Gillard government including Swan/ Wong had not wasted so much in the past 6 years we would not be in the predicament we now face.

Geez I hope the Coalition have put a stop to the $900 cheques that Labor were sending out up to the election.




http://www.theaustralian.com.au/nat...ffer-for-economy/story-fn59nsif-1226745607274

They've been replaced with the PPL scheme - 50% pay cheques mate. The Libs don't do things by half measure.

 

[Garpal Gumnut]

GG, I watched the ABC 7.30 report tonight and an ex RBA board member Professor Mc Gribbin (I think that is how you spell his name) expressed his opinion of Wayne Swan....It certainly was not very complimentary at all.

Agree noco, didn't see 730 tonight.

The dregs of the middle classes, the ALP, like to impose their "vision" on a populace.

Always whenever the ALP elected economic conditions go down.

They know how to spend, when it is not their money.

Then the Coalition have to pick up the tab, get the country moving again and take the pain for unpopular decisions.

It is a shame the ALP did not have more workers in parliament, as opposed to upper middle class professional bludgers.

gg