Debt and Deficit - Coalition Budget Emergency

[RUNVS]

Conservative supporters are so gullible. They believed all the rubbish Hockey and Abbott were peddling prior to the election. No doubt they will shrug off the facts and continue to believe in their blue tie wearing unicorns.


http://www.abc.net.au/news/2014-12-16/koukoulas-myefo-warning-fails-to-curb-spending-spree/5969364

So everything that conservatives were getting really upset at Gillard and Swan were doing to the economy Abbott and Hockey are doing as well, but worse.

 

[Slax]

You know how it is. If the poor can afford it then lets put the price up.

Then you should know that the talk of government debt being a problem is a lie.

Government debt only ever becomes a problem when it is seen to be increasing at a rate which is more than twice the speed of which revenue is increasing. Too many people fail to understand macroeconomics and believe that the basis of personal economic rationalism corresponds directly to that which exists for a government, which is complete BS.

 

[Todman]

Then you should know that the talk of government debt being a problem is a lie.

Government debt only ever becomes a problem when it is seen to be increasing at a rate which is more than twice the speed of which revenue is increasing. Too many people fail to understand macroeconomics and believe that the basis of personal economic rationalism corresponds directly to that which exists for a government, which is complete BS.

So your happy for the government of the day to pay $1,000,000,000 per month in interest on their debt.

 

[sherb]

http://www.theguardian.com/business...ic-on-the-budget-have-come-back-to-haunt-them

 

[louismaxwell]

http://www.theguardian.com/business...ic-on-the-budget-have-come-back-to-haunt-them

Why are you signalling out the Liberals, it was labor who run up most of the debt. Stop being so partisan and trying to score points its not a good look.

 

[RUNVS]

Why are you signalling out the Liberals, it was labor who run up most of the debt. Stop being so partisan and trying to score points its not a good look.

The deficit has only increased under Abbott.

 

[louismaxwell]

The deficit has only increased under Abbott.

You silly , did Labor not run up the majority of the debt. YES OR NO. So when they get back in power they can pay it off, why is it up to the liberals job to fix their mess every time . Enough is enough.

 

[John]

Stop being so partisan and trying to score points its not a good look.

Yeah yeah no worries. We all apologise for not being as fair and balanced as you.

 

[John]

What a moron!

 

[RUNVS]

You silly , did Labor not run up the majority of the debt. YES OR NO. So when they get back in power they can pay it off, why is it up to the liberals job to fix their mess every time . Enough is enough.

Is Abbott's and Hockey's deficit not higher than Gillard's and Swan's. YES OR NO?

 

[sherb]

Why are you signalling out the Liberals, it was labor who run up most of the debt. Stop being so partisan and trying to score points its not a good look.

Signalling?

 

[RUNVS]

Signalling?

I am guessing he meant "singling" but you are right that this mistake probably shows Louis Maxwell probably is not intelligent enough to realise when he is being fed right wing propaganda.

 

[louismaxwell]

What a moron!

Nice response, thankyou

 

[John]

Nice response, thankyou

Stop being so partisan and trying to score points its not a good look.

 

[medusala]

Australia is massively undertaxed and this is the primary problem in this country

Wow. Just wow. Higher taxes = economic panacea

Haven't heard that for a while.

Amusing yet disconcerting at the same time.


.

Too many people fail to understand macroeconomics and believe that the basis of personal economic rationalism corresponds directly to that which exists for a government, which is complete BS.

You have been the New York Times too much. The same lovely chap who gave us that "theory" was also responsible for

"[Jews] have in them deep-rooted instincts that are antagonistic and therefore repulsive to the European, and their presence among us is a living example of the insurmountable difficulties that exist in merging race characteristics, in making cats love dogs"

http://www.abc.net.au/news/2014-12-16/koukoulas-myefo-warning-fails-to-curb-spending-spree/5969364

Quoting Gillard's adviser again. You attack Hockey for trying to cut spending and now for not cutting spending.

Such consistency.

 

[RUNVS]

Wow. Just wow. Higher taxes = economic panacea

We are. Compared to most developed nations our taxes are very low.

 

[rodney hoo]

Is Abbott's and Hockey's deficit not higher than Gillard's and Swan's. YES OR NO?

Old louiy struggling with the answer, might have to phone a friend, I'll be his friend I like everybody, & the answer is YES.

 

[Fire]

You silly , did Labor not run up the majority of the debt. YES OR NO. So when they get back in power they can pay it off, why is it up to the liberals job to fix their mess every time . Enough is enough.

Considering reckless Joe has ramped the debt up 20% this year alone, has blown the defecit out into uncharted waters at a rate of knots that now he can't even imagine getting back into surplus till the end of the decade; who is left to save us?

Usually when labour get the chance to build the nation after years of liberal neglect, they at least get to do so with a decent economy in place. Tony can't even get that right; he's giving us nothing while accelerating spending and bad debt.

My god, this is a terrible government that only shills like you can see a silver lining from. The worst we have ever seen, and its only a year in.

To think I used to criticize labour for their budgets!

 

[medusala]

We are. Compared to most developed nations our taxes are very low.

So what? Half of Europe is steaming towards default. Should we aim for that? You also need to add state taxes on to federal taxes (which few Euro countries have)

 

[RUNVS]

Considering reckless Joe has ramped the debt up 20% this year alone, has blown the defecit out into uncharted waters at a rate of knots that now he can't even imagine getting back into surplus till the end of the decade; who is left to save us?

Usually when labour get the chance to build the nation after years of liberal neglect, they at least get to do so with a decent economy in place. Tony can't even get that right; he's giving us nothing while accelerating spending and bad debt.

My god, this is a terrible government that only shills like you can see a silver lining from. The worst we have ever seen, and its only a year in.

To think I used to criticize labour for their budgets!

I remember a poll done 6 months before the election and most people thought they would be worse off under Abbott as Prime Minister but despite this they still intended to vote for him. I was shocked when I saw that poll as it made no logical sense. Why on earth would they vote for a guy they knew they would be worse off under. Did people really hate Gillard that much.

 

[medusala]

I remember a poll done 6 months before the election and most people thought they would be worse off under Abbott as Prime Minister but despite this they still intended to vote for him.

A large structural deficit was going to sort itself out? Of course people were going to get bent over. It doesn't matter who is in power there will have to be very large spending cuts (and possibly tax rises for those of a cowardly persuasion).

Amusing the fanbois attempting to criticise Hockey for not slashing spending. When he made a half hearted attempt there were squeals of anguish on here.

Not sure which is worse, such inconsistency or people trying to argue Keynesian economics somehow has some validity.

 

[RUNVS]

A large structural deficit was going to sort itself out? Of course people were going to get bent over. It doesn't matter who is in power there will have to be very large spending cuts (and possibly tax rises for those of a cowardly persuasion).

Amusing the fanbois attempting to criticise Hockey for not slashing spending. When he made a half hearted attempt there were squeals of anguish on here.

Not sure which is worse, such inconsistency or people trying to argue Keynesian economics somehow has some validity.

People would not have minded as much of Hockey's and Abbott's cuts did not almost exclusively affect the poor.

 

[John]

Would I be a fanbois or whatever it is is if I said I do not support the cutting of the Indigenous and Remote Eye Health Service?

 

[medusala]

People would not have minded as much of Hockey's and Abbott's cuts did not almost exclusively affect the poor.

Well the funny thing about spending is that it typically either goes on the poor or on wages ie public servants. I for one have zero problem with sacking tens of thousands of the latter, a rational person would say it's common sense.

Of course there are areas where the well off are subsidised

ABC
Free visits to the doctor
University degrees

One assumes then on the basis of your post that would be in favour of dramatically cutting / ending the middle class and "rich" getting subsidised access to t those services.

Would I be a fanbois or whatever it is is if I said I do not support the cutting of the Indigenous and Remote Eye Health Service?

I had no idea they were. I thought Abbott was meant to have quite an interest in that area? Surely if they had to cut back on Aboriginal affairs it would be on remote housing which has long had serious issues.

 

[Power Raid]

http://www.theage.com.au/federal-po...ore-job-losses-next-year-20141216-128cn0.html

Treasury is predicting that thousands more people will lose their jobs next year than previously thought, and economists warn that much of the burden will fall on Australia's youth.


I really feel for the youth who have been lumbered with debt and now the prospect of unemployment and lower wages for those lucky enough to have a job.

I hope they remember who racked up the debt, propped up baby boomer asset values and only managed to delayed the GFC.


It is such a shame people voted in such a way that has resulted in punishing our youth.