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The Gillard Government

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I hope that when Heir Gillard has finished sorting out her own future she might start thinking about us, I know it's fanciful thinking but a little attention prior to the weeks leading to an election would be appreciated.
 
Confirms my long held belief that we go to the ballot box to vote in people to manage our country that we wouldn`t employ in our own business.


Quoted by: Ross Greenwood of Money News..

Right now the Federal Government is at pains to tell everyone - including us the mug-punters and the International Monetary Fund, that it will not exceed its own, self-imposed, borrowing limits.

How much? $200 billion. And here's a worry.


If you work in a bank's money market operation; or if you are a politician; the millions turn into billions and it rolls off the tip of the tongue a bit too easily. but every dollar that is borrowed, some time, has to be repaid. By you, by me and by the rest of the country.

Just after 5 o'clock tonight I did a bit of math for Jason Morrison ( Sydney radio presenter). But it's so staggering its worth repeating now.

First thought; Gillard, Swan, Wong, before that Rudd, all of the Labor Cabinet, call these temporary borrowings, a temporary deficit.

Remember Those Words : Temporary Deficit.

The total Government debt will end up around $200 billion.
So here's a very basic calculation .. I used a home loan calculator to work it out..... it's that simple..
$200 billion is $2 hundred thousand million.

The current 10 year Government bond rate is 4.67 per cent. I worked the loan out over a period of 20 years. Now here's where it gets scary .... really scary.

The repayments on $200 billion, come to more than one and a quarter billion dollars - every month - for 20 years. It works out we - as taxpayers - will be repaying $15.4 billion in interest and principal every year .. $733 for every man woman and child - every year.

The total interest bill over the 20 years is - get this - $108 billion.

Remember, this is a Government, that just 4 years ago, had NO debt. NO debt.

In fact it had enough money to create the Future Fund, to pay the future liabilities of public servants' superannuation, and it had enough to stick $20 billion into the Building Australia Fund .....

A note was sent to me which explains that the six leading members of the Government, from Ms Gillard down, have a collective work experience of 181 years, but only 13 in the private sector.

If you take out of those 13 years the number that were spent as trade union lawyers, 11, only two years were spent in the private sector.

So out of those 181 years:

- no years spent running their own business
- no years spent starting their own business
- no years spent as a director of a family business or a company
- no years as a director of a public company
- no years in a senior position in a public company
- no years in a senior position in a private company
- no years working in corporate finance
- no years in corporate or business restructuring
- no years working in or with a bank
- no years of experience in the capital markets
- no years in a stock-broking firm
- no years in negotiating debt facilities with banks
- no years running a small business
- no years at the World Bank or IMF or OECD
- no years in Treasury or Finance.

But these people have plunged Australia into unprecedented debt.

Well, in a way you can't blame them.
It's clear the electorate did not do their homework, because the Government is there by right.

Ah, but they are Labor and people vote for them because Labor is good for the working family - right???

If you have read this you may like to pass it on to your friends to help educate a little as you, them and I, will be repaying the above.
 
bigdog said:
Confirms my long held belief that we go to the ballot box to vote in people to manage our country that we wouldn`t employ in our own business.
Click to expand...

Gillard and Labor are there for their own advancement, thats it, give portfoios to supporters with absolutely no thought as to their qualifications.

This is where democracy fails, we should have the board of BHP running the country not polititians.

And to add insult to injury after they're thrown out they will retire on generous Parliamentary pensions also paid by us and wallow in their own past "glory" for the rest of their lives.

Just think of Julia Gillard, think hard about what sort of person she is, think now ......... and she is the Prime Minister of Australia, how the hell did this ever happen:banghead:
 
Well it is about time some of these comentators woke up to themselves. How the hell they can keep talking up the goon show, when, like Greenwood says they have gone from no debt to $200billion in 4 years is unbelievable.
What is more unbeleivable is how posters on here hold onto their belief in this appalling lot, when they know the facts. The general public can, to a certain degree, be excused because the media don't ever tell the situation as it is.:eek:
 
Hi.
It was my understanding that shortly the limit to Labors borrowing was going to be lifted another $50 bullion.
Not long ago I read that Hockey said they would oppose it. Cannot remember in what paper.

In reference to those post that refer to the current Governments position, and will the voters understand where we are heading.
One would assume that the polls would be going against Gillard, but this does not seem to be the case.
Obviously she is buying votes, with the money she is spending.

In our area there are LNP B-B-Q'S on this weekend for the state election.
So my thoughts are, we have to get the state election over with a significant loss to Labor then move on from there. Knock over Labor in Federal, then knock out the Greens in the Senate.
joea
 
Julia said:
Stephen Smith also has plenty of reason to feel miffed. Was he amongst the Gillard supporters in the ballot with Rudd? I think he was, and if so he will hardly be feeling his loyalty was being rewarded.

McClelland is taking today to discuss his relegation to the back bench with his family.
Hopefully he'll be sufficiently annoyed to resign and cause a by-election.

I wonder how the rest of the 'team' will feel about Bob Carr being parachuted in for FM?
Not great, I suspect.
Click to expand...

Of all the boneheads in this govt. I had a little time for Stephen Smith but he has deceived me. He should have been returned to the FM position. But he has no backbone and is just weak.
 
joea said:
One would assume that the polls would be going against Gillard, but this does not seem to be the case.
Obviously she is buying votes, with the money she is spending.

joea
Click to expand...

I believe the reason she is doing o.k in the polls is she keeps harping on that they will bring the budget to surplus. The general public is thinking that means they are out of debt.
What Abbot needs to do is start and tell the public how much debt we have on board due to these goons.
Also how long it will take to feasably get back to where we were 5 years ago.
 
I think Tony will have to go, he's not popular, has an awkward manner, I personally don't mind him at all he might well be a great PM but when you're neck and neck with the worst PM in our history you have to face up to the reality of it.
 
MrBurns said:
I think Tony will have to go, he's not popular, has an awkward manner, I personally don't mind him at all he might well be a great PM but when you're neck and neck with the worst PM in our history you have to face up to the reality of it.
Click to expand...

That all very true MrBurns, however gillard is a difficult match up, she is like a school marm, she doesn't listen, has a hide of a rhino a real nasty streak.
Very hard to ague with her, Abbott is the only one she is wary of. Turnbull is popular but is too wishy washy and in reality only appeals to labor people who want to vote liberal.
The litmus test is going to be the Queensland election, an unknown liberal against a standing labor premier. The outcome of that will be a precurser to the federal election and I think both parties know it, big time.
If labour do well Abbott is in manure, if labour get creamed it will be panic stations for the back benchers.:D
 
Government Budget Website

http://www.budget.gov.au/

The Budget will get back to surplus in 2012-13 as planned, get more people into jobs and spread the opportunities from Mining Boom Mark II to more Australians.

Key elements include:
Taking the tough decisions necessary to ensure the budget returns to surplus in 2012-13, despite the impact of recent natural disasters.

Continuing to invest in the economy’s productive capacity through better and more targeted skills and training, and new measures to boost participation and improve private sector opportunities to invest in infrastructure.

Putting the opportunities that flow from a stronger economy within the reach of more Australians, by delivering on key reforms to mental health, extra support for families with teenagers and low income earners and investing in critical regional health and education infrastructure.
Click to expand...


http://en.wikipedia.org/wiki/Australian_national_debt
The Gross Australian federal debt as at 30 September 2011 was AUD$208.992 billion, with a net debt position of $80 billion, or 6% of GDP. [Total Commonwealth Government Securities on Issue] Australian federal budget.[5]
Click to expand...
 
sptrawler said:
I believe the reason she is doing o.k in the polls is she keeps harping on that they will bring the budget to surplus. The general public is thinking that means they are out of debt.
What Abbot needs to do is start and tell the public how much debt we have on board due to these goons.
Also how long it will take to feasably get back to where we were 5 years ago.
Click to expand...

Whats the difference?
 
MrBurns said:
I think Tony will have to go, he's not popular, has an awkward manner, I personally don't mind him at all he might well be a great PM but when you're neck and neck with the worst PM in our history you have to face up to the reality of it.
Click to expand...

And I think there lies the problem, the LNP voters are waiting for it to get better, and waiting, and waiting, and waiting......
The voters who follow politics, are aware that something must change in the LNP camp, but for some reason they have no new ideas, or do they?
Surely those advising can see this!!! Something tells me it is limited.
The more people I speak to want Turnbull. I just do not see him as a PM, but have him involved in economics and Broadband etc.
joea
 
Libs have got time up their sleeve before they have to face the leadership question but Turnbull is the obvious alternative though I agree he is wishy washy.

Qld election will be skewed by Bligh's popularity after the floods, be interesting to see what happens there.
 
MrBurns said:
Libs have got time up their sleeve before they have to face the leadership question but Turnbull is the obvious alternative though I agree he is wishy washy.

Qld election will be skewed by Bligh's popularity after the floods, be interesting to see what happens there.
Click to expand...

If Turnbull got up he would get the disillusioned Labor voters in droves.
It would probably be the biggest Liberal win in history.

But I can't see Tony getting the boot, and he will win anyway.
 

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