Australian Politics Forum - Swan scores own goal with new Audit regime

sir prince duke alevine

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Re: Swan scores own goal with new Audit regime
Reply #15 - Feb 22^nd, 2013 at 1:53pm

Maqqa wrote on Feb 22^nd, 2013 at 1:39pm:

sir prince duke alevine wrote on Feb 22^nd, 2013 at 1:33pm:

Maqqa wrote on Feb 22^nd, 2013 at 1:28pm:

sir prince duke alevine wrote on Feb 22^nd, 2013 at 1:17pm:

Maqqa wrote on Feb 22^nd, 2013 at 1:13pm:

Armchair_Politician wrote on Feb 22^nd, 2013 at 12:38pm:

One simple fact in economics seems to escape Swan. If you spend more money than you get, you cannot have a surplus. Swan is addicted to spending and sees it as the solution to every problem. Can't wait to hear him whine from Opposition about Abbott's cutbacks to pay for Swan's debt. Mark my words - Swan will be screaming from the rooftops how out of touch and hurtful Abbott is to Australian families but will conveniently leave out the fact that it was his reckless spending that forced Abbott to make those drastic decisions.

hit the nail on the head there

instead of admitting they got it wrong - Labor goes from one disaster to another

Labor accuse Abbott of cutting give aways that they announced in last year's Budget

But we can't afford it

The way we can afford it is to increase the national debt to beyond the current $250B

Wow look at dumb and dumber agreeing with each other. Care to remind us, dumbies, what the government's spending increases vs. gdp growth have been? Grin

about the same as Labor government wastage vs Dumb Arse Labor surplus and tax promises

So you have no idea then? Grin

Why is that no surprise. Hey, which of you is dumber? Armchair is dumber? Or you're dumber, Maq?

You should ask dumb arse Swan about the unemployment rate

What about it? Abbott plans for it to grow more! Grin

You don't support the current unemployment rate, and yet you're happy to see it GROW just because it's the liberal party? FOR SHAME!

PS; still waiting for the spending growth vs. gdp growth Grin

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Maqqa

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Re: Swan scores own goal with new Audit regime
Reply #16 - Feb 22^nd, 2013 at 2:04pm

sir prince duke alevine wrote on Feb 22^nd, 2013 at 1:53pm:

What about it? Abbott plans for it to grow more! Grin

You don't support the current unemployment rate, and yet you're happy to see it GROW just because it's the liberal party? FOR SHAME!

PS; still waiting for the spending growth vs. gdp growth Grin

Abbott is looking to do that?

Really?

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perceptions_now

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Re: Swan scores own goal with new Audit regime
Reply #17 - Feb 22^nd, 2013 at 2:09pm

Maqqa wrote on Feb 22^nd, 2013 at 1:13pm:

Armchair_Politician wrote on Feb 22^nd, 2013 at 12:38pm:

One simple fact in economics seems to escape Swan. If you spend more money than you get, you cannot have a surplus. Swan is addicted to spending and sees it as the solution to every problem. Can't wait to hear him whine from Opposition about Abbott's cutbacks to pay for Swan's debt. Mark my words - Swan will be screaming from the rooftops how out of touch and hurtful Abbott is to Australian families but will conveniently leave out the fact that it was his reckless spending that forced Abbott to make those drastic decisions.

hit the nail on the head there

instead of admitting they got it wrong - Labor goes from one disaster to another

Labor accuse Abbott of cutting give aways that they announced in last year's Budget

But we can't afford it

The way we can afford it is to increase the national debt to beyond the current $250B

Ah, Maqqa & AP, another load of -
C
redible
R
eliable
A
bundant
P
araoxes

You still don't get it, DEBT IS A NORMAL PART OF GLOBAL ECONOMICS!

It usually goes up & down, depending on what part of the Economic cycle is in at the time.

Where countries get into strife is when they go too far, as many countries have now, such as Japan, the USA & much of Europe.

Australia on the other hand, with a Debt to GDP ratio around 20%, would normally still be well placed.

And in the current circumstances, when compared to many others who at closing in on 100% or greater & some such as Japan with 250%, we have done reasonably well to keep our Debt as low as it is.

That said, you are suggesting that Abbott & the Libs will do better, when they win the next election, which seems likely that they will win.

However, despite the Liberals going into their usual DNA role and introducing AUS-terity measures, their chances of reducing Debt are ZERO!!!

Anyone, who is unbiased, need only look around at Japan, the USA & much of Europe, to know that AUS-terity is not now working, like it had previously. In fact, AUS-terity is now only forcing countries into a quicker Economic slowdown, slowing GDP & forcing Debt ever higher.

As I said, AUS-terity has worked in the past, but that was because it forced Debt down, as a quickly increasing Population soon drove Demand higher and with no other impediments the Economy soon recovered its Growth and Debt receded into the background.

However, the situation is now different, as Population Growth is slowing quickly and the Demographic trend is now toward a quickly Aging Population, which is forcing government Expenditure ever higher & revenue is being restricted, like a Boa Constrictor.

At the same time, Disposable income is also in Decline, as Energy Prices come under increasing stress & the Goldilocks Climate disappears, leaving us struggling in the wake of change.

So, when Abbott & the Libs win the next election, Debt won't go down, no matter how much AUS-terity they apply, it will simply continue to rise.

The only way to mitigate against the worst possible outcomes, will be to change.

Productivity increase will need to be the main game, we will need to do more with less, a hell of a lot more, with a hell of a lot less!

First thing, would be to get rid of Local Councils, all of them.
Next would be to implement the Henry Report, as a start & then keep going, with many Concessions/Expenditures to bite the dust, including the FHOG & the Baby Bonus.
Next, would be to raise, yes that's correct raise Taxes and do away with many tax concessions, to ensure that the top 20% of earners & Businesses, pay their fair share of taxes.
And, there will need to be many other Nexts, in a long campaign to re-balance the local & Global Economy.

Oh & if you want to know what happens if everyone doesn't pull their weight, TRUST ME, YOU DON'T WANT TO KNOW!!!

Finally, NO motherhood statements were used in producing this post!

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sir prince duke alevine

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Re: Swan scores own goal with new Audit regime
Reply #18 - Feb 22^nd, 2013 at 2:11pm

Maqqa wrote on Feb 22^nd, 2013 at 2:04pm:

sir prince duke alevine wrote on Feb 22^nd, 2013 at 1:53pm:

What about it? Abbott plans for it to grow more! Grin

You don't support the current unemployment rate, and yet you're happy to see it GROW just because it's the liberal party? FOR SHAME!

PS; still waiting for the spending growth vs. gdp growth Grin

Abbott is looking to do that?

Really?

His jobs policies seeks to increase unemployment. Do you not remember us discussing this and you as per usual running away?

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Maqqa Gold Member Offline 14% - that low?! Posts: 16000	Re: Swan scores own goal with new Audit regime Reply #19 - Feb 22^nd, 2013 at 2:16pm You still don't get it PN that under the LIBs the debt was paid off - we could grow without the debt
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Doctor Jolly

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Re: Swan scores own goal with new Audit regime
Reply #20 - Feb 22^nd, 2013 at 2:28pm

Its pretty obvious to most economists that Abbott will send the country into recession if he gets in. He is against government stimulus which has kept us out of recession during the GFC, and plans to cut back services (Austerity) as soon as he gets in. That, combined with commodity price downturns, will cause a "tightening of the belts" especially from the 20,000 public service workers out of work, which will impact retail and spending in general. This will tip the economy into stagnation or negative growth for a period.

This is a fact. It may not be a bad thing or a good thing, but we will be in recession for a good part of 2014 if results go as predicted.

No unbiased economist will tell you this is the time to aim for surpluses.

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BatteriesNotIncluded

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Re: Swan scores own goal with new Audit regime
Reply #21 - Feb 22^nd, 2013 at 2:28pm

Maqqa wrote on Feb 22^nd, 2013 at 2:16pm:

You still don't get it PN that under the LIBs the debt was paid off - we could grow without the debt

gfc gfc gfc gfc gfc