#Budget2013 The way twitter saw it

What the upper echelon is saying about the Budget.

48 comments on “#Budget2013 The way twitter saw it

  1. So according to the Murdoch media this is the Mother of all Deficits.

    As Möbius would say: Oh FFS.

  2. Latika Bourke -upper echelon- give me a break all she can grizzle about is the cost of cigs going up 7 cents a packet, and she is regarded as UPPER ECHELON.

  3. “So according to the Murdoch media this is the Mother of all Deficits.

    I heard on the radio last night we are now paying $14B/year interest on the debt Labor has racked up since 2007. What a shame. In 2007 we had no debt and some money in the bank earning interest.

  4. I would have like to see the nuclear subs project announced when Kev was PM to get a cut back, seeing we cannot fully man our existing fleet building twice as many seems ridiculous, even my liberal next door neighbour RN retired was opposed to it.

  5. What a shame. In 2007 we had no debt and some money in the bank earning interest.

    And what intervened? Oh, only the worst global economic crisis since the 1930s. Through which Australia, under Labor’s economic management, passed with the smallest debt in the OECD and the only developed economy not to go into recession.

    Yes, what a “shame” – for those who wanted to score political points from an economic disaster that never eventuated.

  6. Neil of Sydney – where does it say the government should operate a bank account of the likes Howard did, I pay my taxes to support services like Hospitals, the aged, the unemployed or disabled… I want good roads and better services and while I get them I see my tax dollars at work. Howard built nothing, did nothing and achieved nothing more than a war we didn’t want. Seriously I wish the word surpluss would be flushed away I am happy with a balanced budget and considering the GFC one would have to be an idiot, present company noted, to think there would not be some ‘cost’ to coming out of it as well as we did. Seriously get over it… I don’t want a surpluss I want services, I want fewer homeless and no one hungry, I don’t want hospital cues and I like the GP clinics, I believe in FREE EDUCATION. I am tired of the coalition of the wealthy snaffering all the good for themselves… share it around I say, get rid of middle class welfare, look after our planet and our kids… none of which rates high enough on the LNP side of politics. If no one went into debt, NO ONE WOULD OWN A HOME, some borrowing are good especially if they achieve some of the above. Lets face it if it were up to this conservative mob today the Harbour Bridge would be two lanes – forward thinking required !

  7. Neil, don’t forget the $38bn squandered on tax cuts that weren’t necessary-$16bn scooped up by people who definitely did not need a tax cut.

    We would have had a lot more “money in the bank, earning interest”, wouldn’t we if it weren’t for all those bribes?

    I also remember the number of people who begged the government to spend the money on infrastructure like public health and education not tax cuts, only to be ignored.

    Which means that the present government wouldn’t have had to borrow to get us through the GFC. Think on that Neil.

    Facts will beat you every time, Neil. You should try getting acquainted with them occasionally.

    And wot Signe said.

  8. I am with you Neil. It has been a wasted opportunity over the last 6 years. We were the front runners before Labor. Now we get compared favourably to the basket cases. Everyone forgets Howard and Costello sailed through the Asian Crisis and would have taken us through the GfC without the baggage of $250 Billion debt. …not including NBN and other shuffled costs that Swan and Gillard have used to fudge their budgets.
    Turning a forecast $2 Billion surplus into a $20 Billion deficit in 6 months…now that is a super achievement by Gillard and Swan.
    If Labor learns anything from their last 6 years I hope it is the fact that $2 + $2 always equals $4. Just like pissing it up on a Credit Card. It all has to be paid back with interest.
    I said many months ago all the Labor cockups were coming home to roost. The only surprise is that Labor supporters are surprised.
    My advice to Tony would be to just junk this Labor budget. Tony should just keep hammering labor to find out what the real state of our countries finances are. Tony can’t plan any policy roll out until he finds out how deep the black hole is. My punt? in September, when the June 30 2013 final numbers are released, we will see a deficit closer to $40 Billion than $20 billion.
    What a cockup Gillard and Swan have been.

  9. Below with thanks to the TAWNBPM group..

    This morning, Moodys confirmed our AAA rating (see below). In 2011, Swan received the Euromoney Finance Minister of the Year award.

    We are told that last night, the ABC’s Leigh Sales asked Mr Swan whether he was going to contest the next election because he’d so mismanaged the economy!!!

    WTF?

  10. And also..

    “10:03am: For a significant reform with bipartisan support the ranks of the opposition were sparse as the Prime Minister introduced the DisabilityCare legislation.”

  11. Min.
    In spite of Wayne………..
    I agree WTF. How did we slide so quickly from a competent government to this disorganised totally incompetent rabble.
    Min. It all has to be paid back with interest. We have been running on the Federal Credit card since Wayne spent Costello’s nest egg in the first few months of this alleged government.
    Cluster F*ck. Gillard and Wayne are a serial policy and fiscal cluster F*ck.

  12. This morning, Moodys confirmed our AAA rating (see below). In 2011, Swan received the Euromoney Finance Minister of the Year award.”

    It shows that people are worried we are going to lose it again. We lost our AAA under Hawke/Keating and it took 6 surplus budgets by Costello to get it back.

    Thanks for the backup Tweed. Your comments are a surprise. This lot just want to put everything on the Mastercard and eat drink and be merry because it is the next generation that will have to pay it back.

    They do not give a stuff about the next generation. As usual with Labor supporters it is all about ME, ME, ME.

  13. Tweed(ledumb),

    When the Liberals last had to contend with a serious global economic downturn, they ran up debt and deficit every year. While this was happening the Liberals brought Oz Unemployment, Interest Rates and Inflation all in double-digits at the same time.

    The treasurer at the time – someone the Liberals consider an economic guru – John Howard.

    http://www.crikey.com.au/Politics/20070627-Why-John-Howard-never-made-the-cover-of-Euromoney.html

    And “their” global downturn was not as serious as the GFC with which Labor was confronted virtually the moment it took office.

  14. Neil, why the obsession with what Howard did or not.

    Do you not realise, governments do not control the nation;s or the global economy.

    All governments have to work, make decisions and choices, within the economy that exists at the time.

    Since 2007 we have witnessed the global economy behaving in a way that we have not seen since the great depression. Yes, thanks to Labor, we escaped in a reasonably good state.

    What is more important, the global economy still has not recovered.

    In Australia, we have a situation where the nominal GDF has remained high, along with a dollar that refuses to come down from his dizzy heights.

    That has led to a massive drop in predicted income. Yes, it is easy to be wise in retrospect. Yes, many commentators did say yesterday, many of this governments problems are not of their own making. Yes, many should have realised earlier, that those tax cuts, early this century, have led to structural imbalances in the budget. That along with much of the unnecessary gifts to the middle upper income earners.

    We have Abbott out trying to sell, that none of the above exists. He is sticking to wasteful spending. That is his right. The question one then needs to ask, how can one that does not recognises problems have the solution.

    We have class envy again raised at the NPC.

    Something new is going on within our economy. Massive cut in interest rated. Massive drop in the rate of trade, and the dollar did not come down. That is the not the norm.

    Maybe there is some light at the end of the tunnel. The dollar is now around 98 cents, below parity with the USA dollar.

    The forecasts have been way out. Maybe it is because the economy has been extremely volatile, and behaving in a way not seen before.

    What we have learnt, I hope, that the figures are projections, that and nothing more.

    Labor biggest mistake was taking those figures at face value, believing we would be back to surplus.

    Maybe it is time to turn our eyes from the narrow tunnel of debt and surpluses, to look at the wider scope of what makes a good economy.

    Yes, there are times for surpluses, times for deficits. Time for debt, for investments in the future.

    Neil, these are the important things we must address. If not, we can wake up in September 15, with a man in the lodge, that has shown no ability to address the problems of the day.

    We have to look past the personalities, past whether we like the leaders or not,

    We still have the triple AAA ratings, we still have one of the best economies in the world. Can Abbott really do better.

  15. Min, note your photo. Later, as night follows day, we will have Abbott whining that he does not know what is in the legislation.
    Probably too busy, mending fences in the party room. Abbott got a little bit of a mauling on the ABC this morning, especially from Sabre Lane, AM.

  16. …..There has been intense focus on the poor recent forecasting. Off the back of that government ministers have justifiably been pilloried for some of the outrageously inaccurate rhetoric that went hand in hand with that.

    Yet the bigger picture shows that Wayne Swan did keep Australia out of recession during the global financial crisis.

    Throughout his time in office he has presided over impressive economic outcomes, whether they be employment, inflation, interest rates, growth, or even comparable debt.

    As the budget papers showed, Australia’s economy will be 22 per cent larger in two years than it was when the government first came to office.

    Now very quickly at………….

    http://www.abc.net.au/news/2013-05-14/cassidy-budget-2013-analysis/4688220?WT.mc_id=newsmail

    Yes, not perfect, but as Mr. Swan says, plenty to be proud of.

  17. Well that is another journalist on my list of people not to trust.

    I have added Barry Cassidy to Peter Martin, Stephen Koukoulis, Bernard Keane and John Quiggen

  18. On Budget Day, much of the talk about economics is trapped in a “rationalist” or neoliberal approach that assumes that budgets simply must be balanced – or preferably in surplus – most or all of the time. It’s an inherently conservative approach that denies governments the possibility of going into deficit to fund expensive, long-term infrastructure projects which will have overwhelming benefits for the community. It’s the approach taken by Tony Abbott, who is telling everyone who will listen that Australia must “urgently” redesign its budget so as to “live within our means”. The two biggest problems for Abbott are Labor’s debt and high taxes.

    Not only is this simply rubbish; the experience of the rest of the world suggests that it is also economic madness. We can see that Abbott’s arguments are rubbish by simply looking at the figures. Public debt in Australia is not a problem. The ratio of public debt to GDP is about 27 per cent, compared with an average of about 90 per cent for developed economies. And Australia is well down the list of effective taxation rates among OECD nations.

    Indeed, on the standard economic measures, Australia is not only performing better than the rest of the world, but Australia is also performing better now, under Labor, than it was when Labor took office from the Liberal-National Coalition in 2007. Since then, GDP per capita is up 13 per cent. Real wage levels are up 27 per cent. Household savings are up 7 per cent. Labour productivity is now at an all-time high, and is a clear eight index points higher than in 2007…….

    http://newmatilda.com/adios-austerity

  19. Neil, you are going to be very lonely. Most last night, accepted that the economy is not acting as usual.

    All the Coalition has, is the word debt. They cannot afford to talk about anything else, as they will be found wanting.

  20. I was speculating on a local club here in Canberra. Business over the last several months has deteriorated considerably and so they took steps to curtail spending – cut back on the quality of food, offered less incentives, employed less people. They saved money but the result was a downward spiral which has resulted in the club being put up for sale.

    And this is why austerity never works, it’s a downward spiral.

  21. ……………But the “age of austerity”, it seems, is drawing to a close in Europe. This should also mean that the experiment of neoliberalism is over. The time is now well and truly nigh for a reinvigoration of strong institutions of state, to encourage common civic-mindedness in the population, to begin work on the massive backlog of neglected infrastructure projects, and to ensure that the most valuable of all twentieth-century inventions – the welfare state – is not further corroded by more mindless implementation of ossified economic theory. In Australia, as the election approaches, we need to be asking all candidates just how they will respond to these new economic realities. Unfortunately, much of the discourse remains trapped in an empirically-unsound regurgitation of neoliberal dogma about “structural budgetary deficits”. To the contrary, Australia should be using its AAA credit rating, the low price of money and its very sound public debt levels to borrow, in order to fund much-needed social programs and public infrastructure..

    http://newmatilda.com/adios-austerity

  22. Fed up, that one has certainly been noted..Abbott whinges that he doesn’t have enough information about the NDIS but fails to show up for the debate. Perhaps turning up might help….

  23. Fed up, I firmly believe that the only way which Australia can maintain it’s mostly egalitarian society is to spend more wisely – stop the middle class handouts, stop giving money away to prop up non-government entities. Tax payers money must be all about creation of equality of opportunity, not giving the already able, the already well-to-do a big pat on the back.

  24. Well, the PM proved yesterday that we can afford essentials, such as Gonski, NDIS and infrastructure for the future.

    Yes, it seems it is just a matter of choice.

    All we hear from the Coalition today, is the debt, debt. Nothing about the future.

  25. Min, I bet that pic of the house of reps this morning doesn’t get much light of air. It should be sent viral. How can TA & LNP say they support the NDIS bill but decline to show up when it was presented to the house. It is shameful, but it is quite predictable in my view.
    Selective reporting by the MSM is something they are very good at. The journos owners should be very proud of them & give them a pay rise, after all, they have just played everyone for fools.
    There are many, many people out here in ‘normal’ land who haven’t forgotten that there was a GFC. Repeating the mantra that the MSM owners want them to repeat that ‘this is a bad government’, when hundreds of workers were kept in jobs while the rest of the world were retrenched is just ludicrous.
    The trolls who haunt this blog site are just pot/muck stirring idiots belonging to the right wing idiots brigade. They will never change their ideas for progress. They haven’t got the capability just like the party they follow.
    Signe, you have expressed what so many of the people of Australia are thinking.
    When all of the hoohaa about the budget dies down, the main areas that the government have budgeted for namely Gonski, NDIS, & infrastructure are what we all want.

  26. Fed up, nor do we hear from the Opposition where their intended cuts are to come from and how they’re going to pay for the largesse of their over the top parental leave scheme. The only thing I recall from Hockey (by way of anything practical) was putting Medicare and Centrelink into Post Offices.

  27. Post Offices you say. Are not most, privately run agencies. I am sure they have the qualifications to deal with Centrlink questions. I will not even mention being able to maintain privacy.

    I suggest Mr. Hockey visit Centrelink. He might find the few things that a PO could do, are already being done over the net.

    Who will come first, someone that wants to buy package for their parcel, or some oldie wanting to sort their pension out.

    Then they did sell out the CES for a very inferior and expensive service. One that should be assessed. I am sure it will be found wanting.

  28. Sandra,I also believe that the Liberals making slash and burn promises is sending feelings of dread into many..recent experiences with Liberal state governments provides reasons why.

    I too agree with Signe and believe that in spite of many bleating about having to pay a dollar or 2 more, that a majority still want good schools, care for people with permanent disabilities and infrastructure..plus will pay for it. I think that the days are gone when a Howard-style government works, people are no longer hugely impressed by an additional handout of $10.00..they want things which are lasting and not which could easily be spent on next to nothing.

  29. The truth is, if one follows what goes on in the house, this Opposition has never taken any interest in the majority of legislation.

    Abbott only interest is QT, then not to ask questions, but to mount what up to now, was a daily time wasting stunt.

  30. Fed up, if Hockey believes that Centrelink and Medicare can be put into Post Offices..I would suggest that he tries visiting a Post Office…

    Here’s the link from only a few days ago..

    Shadow treasurer Joe Hockey has warned that a Coalition government would implement drastic welfare and spending cuts and streamline government service delivery, but many of the details will not be finalised until after the federal election.

    And..

    Mr Hockey signalled a significant overhaul of Centrelink, Medicare and other service delivery agencies, saying they deliver in payments about 10 per cent of GDP “yet the procedures and rules used for customer interaction remain mired in mid-20th-century technology’’.

    Mr Hockey wants to dramatically streamline the agencies, with one idea being to merge their front-office operations with post offices.

    http://www.afr.com/p/national/hockey_flags_severe_welfare_and_k97QJUdU66Ux04f3Os9XMM

  31. Revenue going up seven percent. If the household income only went up the same, , they might not be able to cope, as I am sure, the outgoings have also gone up seven percent.

  32. Sounds like Hockey also needs to visit Medicare. One no longer has to. One pays the doctor, the difference already paid into your account, by the net. Yes, this government seems to have bought the Federal Offices into this century, along with all the schools in the land. Yes, they appear to have invested in the computer age.

  33. Sandra,I also believe that the Liberals making slash and burn promises is sending feelings of dread into many

    Yes let us put everything on Mastercard and let the next generation pay for it. We can fund everything by borrowing for the next 10 years.

    By the way what has happened to the NBN?? Back in 2007 Labor said it would take 5 years to build. It won them a lot of votes by stupid people who believed Rudd.

    I would say the same for most Labor policies. I will believe it when i see it.

  34. Neil, do you keep a list of comments near the computer. that you repeat over and over. Been through the NBN with you. You will just have to go back and look at previous answers.

    Coalition pulled a dirty today on some super legislation. Did not honour pairs for the PM and deputy.

    ….Four Labor MPs have missed a vote in Federal Parliament, leaving the Government short and forcing it to negotiate with the Opposition over recasting the vote.

    The vote was on a Coalition amendment to government legislation relating to superannuation and is the most significant loss on the floor of the House for the Government in the current hung Parliament.

    The missing MPs included two ministers, Gary Gray and Mike Kelly, and a government whip, Graham Perrett. The fourth was western Sydney MP Ed Husic.

    They were in the Great Hall of Parliament waiting to hear the Treasurer’s post-budget address to the National Press Club and apparently unable to hear the bells that ring to alert MPs that a division has been called.

    The Government lost the vote 72 to 68.

    As the Speaker read out the result there were rowdy calls from Opposition benches, including one MP yelling that “any decent government would resign” and saying the situation was an “absolute shambles”.

    Government Leader of the House Anthony Albanese asked for another vote, pointing to an earlier agreement about votes with the Opposition and crossbench.

    “As people would be aware there is an event on at the moment which meant that some members missed a division,” Mr Albanese said.

    “Clearly that is a mistake – for that mistake members should apologise to the House in accordance with the agreement that was put.”

    But manager of Opposition business Christopher Pyne would not agree, arguing the agreement was “not a legally-binding document” and that the Government had already breached it.

    Mr Pyne said the deal covered a revision of a vote “if a member was suddenly ill, if a member was locked in a room or couldn’t escape for some reason… was in hospital, had an immediate family crisis”……………

    http://www.abc.net.au/news/2013-05-15/govt-loses-superannuation-vote-after-mps-absent/4691614?WT.mc_id=newsmail

    In parliament, it was claimed, the Opposition did not honour agreed pairing.

  35. One thing i have noticed is that Labor just has to announce some new policy to be finished sometime in the future, say by 2050, and ALP supporters start behaving like fans at a rock concert.

    Perhaps you should offer praise when the policy is up and running and successful.

  36. Neil, perhaps some recognition that the policy is a good idea would be useful as well. Because of Abbott knocking back every single idea..good, bad or indifferent, the public has not a single clue what he will do.

  37. They say the government did not get it right last year. Is that correct. What did they not get right. The budget, or the fact there is not a surplus.

    Yes, they did not achieve a surplus. Does that mean the budget was wrong?

    That budget has still delivered a strong economy, one of the strongest in the world.

    The only fly in the ointment, is a very small surplus, smaller than the year before.

    We still have low interest rates, unemployment and inflation among many other positives.

  38. Min @ 2.25pm, precisely. Government should be about making life better for everyone, not just the wealthy and favoured few.

    And we all know which government that is.

    And it has just been amply demonstrated that while this government has the welfare of the low paid, the disadvantaged and disabled at heart, the Nopposition has only the interests of the wealthy at heart and to hell with the poor, the disadvantaged and disabled, by voting against the superannuation bill.

  39. What a ‘Rose coloured Post’ my friends.
    Totally different out their in the real , harsh and unforgiving world.
    Did the writer of this blog turn on his Radio or perhaps his TV maybe even
    a newspaper today?
    All tell a totally very different and very negative assessment.
    Damming Labor to Electoral defeat. Thanks six in a row Swan.

  40. Could that woman, you know the worse PM in history,m the one with no political skills, have wedge Abbott well and truly.

    Could Abbott be left with nowhere to go, but start talking about what he intends to do. Yes, has that useless woman taken control of the election agenda.

    Yes, I believe the PM is in full control, as she has been for three years. The difference is now, the PM is letting the media and Abbott know.

    Abbott even mouth tonight on Lateline, that booby traps have been laid.

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