Joe Hockey delivers his post Budget address. Photo: Andrew Meares
Responding to Treasurer Swan’s Budget
To journalists in Parliament’s Great Hall
He seemed so anxious to fudge it
He forgot – pride comes before a fall!
He spoke at length of his sadness
For a cousin who’d hit the wall,
Weighed down by Government madness,
Rules and red tape. (Not that tax after all?)
Not that he was offering tax cuts,
Like Labor to later recall.
The Liberal Party has guts.
They’ll audit, any false hopes forestall.
No dodgy Treasury statistics;
His own will be true, line ball,
Straight shooting like Tony’s ballistics
With Aussies again walking tall.
From reports in that evening’s news
His oratory failed to enthral.
Next day’s media collective views
Seemed to be he’d said bugger all.
Sorry this is almost out of date. I almost didn’t bother posting my impressions of Joe Hockey’s BIR speech, so unimpressed was I but as the week wore on I realised I was in good company. No economist myself it was encouraging to read that economists I respect shared my view. By now you will all have read people like Greg Jericho, Stephen Koukoulas et alia who although perhaps not as scathing or funny as Bob Ellis would probably agree with him that we shouldn’t buy a used economy from the man pictured above my pome.
The expression, or lack of it, on the faces of his audience in Parliament’s Great Hall must have told Joe that what he was saying was going down like a lead balloon. Partisan as I am I wondered if they also shared my distaste, so insulting did it seem to Treasurer, Wayne Swan, to Prime Minister Gillard and her government, and to all of us who live in Australia and are proud of the achievements of our country at a time when most of the developed world is doing less than well. But then Joe, Tony Abbott and Co, supported by the might of Rupert Murdoch’s money and his News media minions, have been insulting the intelligence of all us for three years now, so what more did I expect?
This weekend I was encouraged to see that Ross Gittins thinks that Australia’s underlying structural deficit which can lead to debit difficulties for us during times of depression such as the world has been experiencing recently was actually caused by Peter Costello’s lack of foresight and over commitment to tax cuts during the mineral boom years of Coalition ascendancy. So Joe is not only lying about the mess he says Australia is in right now, but also not taking responsibility for his own government’s share in generating some of the problems Treasurer Wayne Swan has been dealing with so effectively. I hope our top star Treasurer knows that in spite of News Ltd and others trying to give a spurious credibility to Abbott and Hockey, there are many people like me and bloggers such as Judd and Frank at Bob Ellis's site who can see how well he has done in producing a
“Strong economy. AAA credit rating by all three agencies. Low interest rates. Low unemployment. Low inflation. Building lots of things (NBN, NDIS, hospitals, schools, ports and roads all at record levels of invesment – and it is investment, not ‘spending’ because it sets the place up for another generation of prosperity).”
And if that’s doesn’t do it for you, how about this from John Howard, former Prime Minister of Australia?
“When the current prime minister and the treasurer and others tell you that the Australian economy is doing better than most – they are right,” he said.
“We are still fortunate that we have an unemployment rate with a five in front of it. I wouldn’t have thought that was going to be possible a couple of years ago, and I don’t think many people would have. Our unemployment has remained pleasingly quite low.
“And our debt to GDP ratio, the amount of money we owe to the strength of our economy, is still a lot better than most other countries.”
The Reality for all CWs is that baring an absolute catastrophe or the early
end of the world , the two Gentlemen who you take great delight in abusing
and belittling will by 14/9 be our Prime Minister and Treasurer.
Furthermore the projected result with Labor probably shrunk to a sub 30
number simply means ‘Opposition for 3 Terms’ minimum.
Since Cuppa, Min, Silkworm and M E took up the challenge at
https://cafewhispers.wordpress.com/2012/08/17/tony-abbott-nasty-to-the-core/#comment-150128 I had been wondering if I should simply pop this pome onto end of their very able discussion on the economy.
But Miglo asked me to start a new thread, so I hope they’ll have something to say here too.
Well, Voyager, I think you and Joe are both going to have to learn that lesson about pride coming before a fall.
No P – the current Government should have learnt that a long time ago,
beyond redemption now they are!
If things are so great how come our deficits since Labor has got in are $-27B, $-55B, $-47B, $-43B and $-19B?? Could it be that Labor is funding everything like some of the European countries have done??
And that structural deficit crap was invented by evil people who lie about Costello’s record.
No Neil, the “evil people who lie” constantly, sit on the other side of the house 😆
And the lies haven’t stopped just because he lost his seat at the 2007 election either (Don’t you just love the sound of those bold words 😆 )
Pavlov rides again… http://soundbible.com/1746-Ship-Bell.html 😆 😆
Patricia, I hope that you don’t mind me going off topic but I would like to post a special note of thanks to friends who have given us so much support during Michael’s recent hospitalisation. For those who don’t know Michael/Migs has been in intensive care since last Thursday and on life support. We are especially grateful for the care given to him and the support and help given. Thank you. The good news is that he is getting better day by day and hopes to be back soon. And Patricia, a special note of thanks to you and our contributors for keeping the blog going during this time.
Thanks Min, for that up-date on Migs. Thanks too for being there to support him and to give him all the hugs I keep wishing him in my emails! He has never let on in them as to the extent of his ‘not feeling so good’ either. So thank you again for the up date. More hugs for him, please.
Stunned me Min. Give my best to Migs and we are still on for another breakfast at Bungendore.
Min, sad to hear that. Hope things are back to normal, quickly.
Michael, Sorry to hear that you are in hospital, hope it wont be to long before you are back giving your political views and witty one liners.
Maybe another Darling Harbour?
Neil, it is a shame for you, that they are ow talking about much more than debt and deficits.
Did not Abbott and his supporters say, they could not release policies in any details, as Labor would steal them.
Funny, he is busy releasing many, that one could only call Labor lite.
We have Fraud broadband. Another inferior version of NBNCo.
We have Direct Action. an expensive inefficient attempt to deal with man made climate change.
We have an expensive clone of the present parental leave scheme. That is his PPL, which he will raise taxes to fund.
Now, after saying the present scheme to fund education was not broken, he has come up with his own form of Gonski, or as some have called it, Gonski lite.
Who is in control of the election agenda. Who is copying who.
Voyager and Neil, along with scaper, have not you noticed, much has changed in resent times.
MIn sorry to hear about Migs, no wonder I did not get a reply to my email, as for Hockey he needs to change his name again by deedpoll to Costello then will have a true pair of clowns applying to run the country. I recorded his reply but not not watched it yet needing a good laugh later this week.
Hey, you will understand what “resent times” means at the next election.
Nothing like beating the left with their own sword. Confirmed my attendance for the election shindig at Cremorne Point. Will be a hoot!
Hockey less weighty?
I bet that the posters here are mostly overweight yet they attack someone for their weight?
Won’t bother with physical fitness as doubt that some would be of social fitness as displayed in the increasing unhinged posts.
Happens in group think.
scaper, having fun?
Hey, you are supposed to be ignoring me.
Obviously a non core statement.
Hockey is a fathead and another lying clueless Liberal. All Spin, No Substance.
I see that Garrett could not put a sum on the first year of Gonski that the independent schools will receive.
Another classic make an announcement and work it out afterwards. Conski is apt!
Oooh, look over there! —>
Come on cuppa…reveal your weight. Higher than your IQ I reckon.
<—– Ooooh, look over there!
I see the Nationals have retained the Northern Tablelands seat. Not a good omen for Windsor.
Will be the contest of the election…well funded is our Barnaby.
Joe Hockey will be the next Treasurer and there is SFA you lemons can do about it.
Must shit you that you have no influence to prevent it as Rupes, Gina and the evil MSM control the minds of Australians…in your own twisted world.
Had Mr Eleventy had the self control & willpower to lose weight via the reduction in calorie intake & exercise my respect for him would have risen from around zero to 20%! As it is ‘comprehensive fail’! Would I trust this person to manage the country — Oooo Nooo!
As Pete said…”We will change everything when we get in.”
Ladies and gentlemen…fit your plastic sheets!
Liberals – Lieberals…
Abbott’s trouble is that he bases his campaign is based on restarting an economy that is not broken.
One has a problem, when they cannot identify the problem, let alone fix it.
Neil on deficits being greater since Labor got in…I believe that you can no longer get a bag of boiled lollies for two shillings either..
Fed up, Abbott’s trouble is that he is mostly delusional..that something that he isn’t in control of doesn’t need fixing. Mind you, there are quite a number of things that do need fixing however none of the answers come from anything wafting around inside Tony Abbott’s brain.
Min, none at all. He seems to believe to win, one must destroy ones competitor.
One must demolish all.
Does not seem to understand, one only has to be better.
Does not seem to comprehend that the ends does not justified the means
I, for one, still believe that Australians, still believe in a fair go. More important, they believe in sportsmanship. At the end of the day, will support the underdog.
Neil, you and your deficits is becoming a little tedious.
Fed up, that is indeed pause for thought – that there is an illusion that to win one must destroy, but what is really needed to win is to be better. Perhaps that’s the fact of the matter..when one cannot be better, then the other party sets out to try to destroy. I think that many of us have had that experience.
If Neil and Scaper were/are so confident then why are they still trolling…..mm!! Why are they still spreading mis-info, why are they still here ‘doing’ the “yup, he’s a shoein, our Tony” con. ( same as they tried with Mitt), why…why…why……???
……’cause thier shittin’ in their collective proverbials, they know the con that has been played by their LNPMSM, hell, they have been active participants…. and thus they know its all unraveling……. the closer we get to the election, the more people will search for info online…….and the more IT WILL UNRAVEL…….HAHAHAHAHA 😀
Mate, i make one post at 2.11PM and none since and i see i constantly get a mention.
Min, when I wrote what I did, I never thought of it that way. Yes, the same as one experiences in domestic violence. To keep control. one has top destroy their partner.
Spot on, the actions of a bully. Nothing more, nothing less.
One also can never any good in their competitor.
Everything that one does, has to be wrong.
Whatever, one can only see Abbott’s methods in that light.
.Personally, I like to win on a level playing field. Win because I am better.
In sport, we call such people cheats and bad sports.
Neil, aren’t you lucky. We only use you, as a hook to hang our comments. It is not about you.
Sorry to hear about Migs’ troubles, Min -stay strong.
Patricia et al, thank you for your very kind words. When I see Michael tomorrow morning I’ll be sure to let him know. Yes it was a shock, an extreme allergic reaction to prescribed meds which saw him end up in intensive care. It wasn’t until 10 hours later that they told me that if I had delayed calling the ambulance by only half an hour then we would have lost him. Here’s one for you Migs..something I played for you a couple of years ago..just the way you are.
Min, please send my besties to Migs…..
“Being in the hospital is a downer, but there is good in everything, you are being served breakfast in bed, Get Well Soon.” 😉
Min, please give Migs a hug from me. I hope he’s up & well soon.
Are you OK? You must have been terribly worried even though Migs has had to be hopitalised before.
Neil, structural deficits are not a new invention. Stop relying on Liars bullshit for information. they couldn’t lie straight in bed.
And IF the Liars get in, how quickly do you think Sloppy will rid us of those pesky AAA ratings from all agencies? And how fast will unemployment figures rise and the country plunge into recession as the Liars do a Newman?
Less than 12 months, if Newman is anything to go by.
And let’s not forget Liealot has signalled that he will do exactly as Newman is doing if he gets in.
Everyone, thank you. Jane, thank you too. He’s ok, so I’m ok. This has been the worst, on life support. You’re only allowed a look through the window and all you can see is the tube down the throat and the monitors, and you keep looking at the monitors and watching them to see if they’re still breathing, still alive and still with you. I’m sure that many here have been through the same. I ended up praying to God, which must have given God one hell of a fright..he hasn’t heard from me in quite some time.
Tabozbet odds as of today ALP in to $6.20 from $9.00 a couple of days ago. Libs out to $1.10 from $1.04 . Still four months to go. The worm is turning.
“And IF the Liars get in, how quickly do you think Sloppy will rid us of those pesky AAA ratings from all agencies?”
It was Hawke/Keating that lost our AAA rating in the late 1980’s. And it was Peter Costello after much hard work who got it back.
I must admit you Labor supporters never cease to amaze me. If it was Howard who lost our AAA you would never let him forget it.
It does not matter how bad Labor stuffs up you will never condemn them and never praise the LIbs who were the ones who got back our credit rating. Lets hope Cambell Newman can do the same for Queensland. Beattie/Bligh lost Qlds credit rating during the mining boom which i find amazing.
AAA ratings from all 3 agencies, 3 times? I think not.
Neil, you have been provided with numerous instances of Liars Party lies, incompetence and corruption, but refuse to acknowledge it.
Newman has Qld poised to go into recession. There’ll be no favourable rating for his incompetence and outright lies.
Qld poised to go into recession??? Got a link for that?
Newman is doing quite well in the polls and his actions have not dented the federal voting intentions of Queenslanders!
“AAA ratings from all 3 agencies”
You can’t give the Coalition any credit can you. It was Labor that lost our rating and Costello who got it back and for some reason you want to give Swan credit.
“What is most immediately pertinent about Australia is that it lost its AAA credit rating in 1986, suffered a further downgrade in 1989 — and then got back to triple-A in 2003.”
Swan had nothing to do with getting our rating back. It happened in 2003 and that is important. Because some third rating agency nobody has heard of finally got around to giving us AAA so we can say we get AAA from all three agencies is a non-issue. It is only an issue for you people because Swan has no successes.
Good morning, Min, if Migs is up to a visit today, please give him hugs and happy thoughts from all of us!
Why bother to respond NoS? But still let’s not give him the last word Swan is a star performer on the world stage and Australia is doing very well in his care.
With the silly small talk the majority posted by Labor Stooges , is it surprising
the Federal ALP is in such a bad way.
Correction the ALP across Australia is in such a bad way.
Cannot wait the 110 sleeps to see CW posts after the Election!
Greetings all. Thanks for the kind words and thoughts. Just arrived home a few minutes ago. Lots of catching up to do and lots of resting as well. The trick is going to be how to balance the two.
Knowing me, I’ll catch up first and rest later.
Patriciawa, love your great pome. It is so on the money & pertinent. Joe Hockey is so convinced that he will be elevated to his second favourite spot & anointed Treasurer, that he is running on autopilot, mouthing what he is told to say.
Min, so very sorry & surprised to hear Michael has been very ill. It must be very upsetting for you. Such an allergy would have been a terrible shock. It is wonderful to hear he is now on the road to recovery. Wishing you both all the very best.
Great to see you back Migs.
We must remember that VOYAGER (from wherever), Neil of Sydney & scaper are most likely LIb astroturfers ergo should be ignored.
Here’s a link just for you, scaper to save you demanding one..
Neil the sad old Liberal spinner wrote:
…because Swan has no successes
See, this is an example of why people should not trust the Lying Liberals. They couldn’t lie straight in bed.
Far from having “no successes”, Wayne Swan is one of the most successful treasurers IN THE WORLD. This was recognised by Euromoney, who awarded him International Finance Minister of the Year, in recognition of his astuteness in keeping Australia out of recession during the Global Financial Crisis. Australia was only developed economy in the world to avoid downturn during the GFC – the most drastic global downturn since the Great Depression.
Wayne Swan is the second Labor treasurer to have won this prestigious award. The first was Paul Keating. No Liberal treasurer has been deemed worthy of the recognition. This despite the Liberals having spent more time on the Treasury benches than Labor. All things being equal, the Liberals should have won three or even four awards, but they’ve won ZERO because they are idle, complacent slobs.
In saving us from recession Swan’s economy has created almost one million new jobs since Labor came to power. If we had succumbed to recession as the rest of the developed world did, we’d have lost hundreds of thousands of jobs. Our economy is the fastest growing, with among the lowest unemployment and government debt in the developed world. Interest rates under Wayne Swan are lower than AT ANY TIME under the Lying Liberals, who campaigned on the Lie of “Keeping interest rates at record lows”. And even with interest rates at historically low levels under Labor, there is still room for the Reserve Bank to cut them further still, should stimulatory policy be required.
Swan has achieved all this, despite inheriting a budget in structural deficit from the Lying Liberals. A recent report for the International Monetary Fund found the Liberal government of Howard and loser Costello the most wasteful government in Australia’s 200-year history.
Swan inherited a global disaster and turned it to gold domestically. The Lying Liberals inherited a global goldmine and wasted like no government before or since, leaving Australia’s public finances in structural deficit.
Good to see you back on deck, Migs. I hope you’re getting stronger every day.
Great to see you are back home, Michael. As I am such a slow typist you beat me but my good wishes still stand. 🙂
I typed a longish rebuttal of Nil of Sydney’s lies. Probably a wasted effort, because with Liberals, messages of fact and logic go in one ear and out the other, Still, it might benefit other readers, which is why I typed it really, Trouble is, it seems to have been waylaid by the Spaminator.
Glad to see that you’re on the mend Michael. Try to make sure you do get your rest, its important to have you around here at the Cafe & The Australian Independent.
Back to topic, there are some cracks beginning to show in the LNP. The propaganda machine of Murdochs’ news is becoming so obvious that the good folks of Australia are starting to question WTF even if the MSM aren’t.
Joe Hockey hasn’t got a degree in Economics has he? This really shows with all of his inane mutterings. Now we have to question who really is better qualified to run this country, the ones with the proven track record over the part 5-6 years? or the shadow treasurer or op. leader who think they were born to run this country.
There is an old saying ‘what isn’t broken, doesn’t need fixing’. I think that it applies very well at present.
“There is an old saying ‘what isn’t broken, doesn’t need fixing’. I think that it applies very well at present.”
What is your point?? The economic numbers were much better in 2007 but that did not stop people changing govt. A whole generation of people had grown up not knowing what unemployment at 4% looked like until Howard/Costello came along.
And Howard/Costello had a mess to clean up in 1996. Swan was handed a Federal govt with no debt, unemployment at 4.3% and billions of dollars in the Future fund and various infrastructure funds.
Still believing the lies I see Neil 😆
Hi Migs. Glad to see you’re back, but don’t overdo it. Nobody wants to see you back in hospital, least of all Min. Take care of yourself and Min’s nerves by going a bit slower. We need you in top form for the next big push (the Liars into oblivion).
Short, very selective memory, Neil. The Rodent was handed a surplus which he managed to turn into a big fat $40bn debt to hand on to the Hawke/Keating governments in 1983.
Swan was handed an economy with a big fat structural and huge public debt, infrastructure which had been neglected for years to finance $38bn/year in tax cuts for the wealthy and had to ensure we didn’t go under during the biggest GFC since the depression.
He’s been awarded 3×3 AAA ratings and been given an international gong for being good at what he does, something no Liars party Treasurer has managed to do in the entire time they’ve sat picking their noses on the Treasury benches.
And btw, in 1996 Howard himself said that the economy was in pretty good shape, a compliment he has also recently paid the Gillard government.
Bacchus, Neil probably knows they’re out & out lies, but Rupert’s given the orders, so parrot the dross he does.
Bushfire Bill describes Neil, Voyager & scaper to a T.
I intend to follow his advice and, to paraphrase, not feed the trolls. Neil, in particular, pokes his boofhead through the door merely to derail threads.
Mate, such hatred Jane. Do you actually care about Australia or do you only care about the ALP?? You don’t care what damage Swan does as long as the ALP is in power do you.
It was the ALP in the 1980’s that lost out credit rating. We were downgraded not once but twice. Getting it back is the hard part and we got it back in 2003. That is when we started paying lower interest on our debt.
Standard and Poors and Moody’s are the important rating agency’s. It is those two that people take notice of. So what if some third rating agency got around to giving us AAA. It is of no importance in the scheme of things.
When we got our credit rating back it made it easier for business to borrow money and to create jobs.
Can you give Costello some credit for getting two rating agency’s to give our AAA back or does Swan get all the credit??
Another day. No stunt from Abbott. No “no confidence” motion.
Unlike you, Neil I do care about this country AND the people in it. And that’s why Liealot and his bunch of no hopers should NEVER be allowed near the levers of power. If that were to happen, Greece would look like a major success story.
Migs welcome home 😀
Patricia, love your work 😎
My latest post “Abbott’s Mini Me Rides Again (Abbott’s a NewMan)”
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Good to see you’re “up and about” Migs. Keep on truckin’ 😀
This from the latest budget.
“The Government has delivered $47 billion of tax cuts in our first four years since coming to office. In addition, we have provided further tax cuts as assistance for the cost of living impact of the carbon price from 2012‑13. Even after accounting for the small increase in the Medicare levy in 2014‑15 we will be delivering total tax cuts of around $20 billion a year over the next four years compared to the 2007‑08 tax scales.”
I have seen some people say that Costello’s tax cuts have caused problems for the budget. Basically when Labor supporters hate someone there is nothing you can do. Shane from Qld ripped into Costello’s tax cuts.
Well from this years budget we have detailed Labors tax cuts who SHANE of Qld does not even mention.
Neil, you are a little behind the times. Rudd Has been condemned for keeping his election promised to bring in Howard’s taxation cuts.
Yes, it was wrong.
If he did not, the budget would now be in surplus.
Yes, Labor should be condemned for allowing themselves to be caught up in the surplus at all cost obsessions. They were wrong.
At least they have the ability to admit that, and change course.
Yes, in time, the budget will come back to surplus. In fact, in spite of all the noise, the deficit is half of that at the last budget.
We do have a budget of 390 billion. I cannot get excited about a deficit of less than 20 billion, less than last years 40 billion.
Keep looking though Neil, you might just find something new, one never knows.
“Yes, it was wrong.
If he did not, the budget would now be in surplus.
Yes, Labor should be condemned for allowing themselves to be caught up in the surplus at all cost obsessions.”
You know the loyalty of ALP supporters never ceases to amaze me. I have seen many times the tax cuts by Costello condemned. Shane of Qld blasted Costello about them. But those same people say nothing about Swans tax cuts.
It is just further proof that people believe what they want to believe and facts are irrelevant.
Neil, do you read what one writes. I said that Rudd was wrong. Do you have problems with comprehension.
No one, here as far as I can make out, believes this government is perfect, far from it.
There is time for deficits, time for surpluses.
Neil, what we have learnt, is that when governments are in receipt of big windfall receipts from super profits, in any industry, it should not be handed back a tax cuts, unless one is prepared to increase those taxes, when the super profits disappear.
Better to follow Norway, invest the windfall receipts, and invest in infrastructure,
Cutting the taxes led to a structural imbalance in the budget, when the windfall receipts disappeared.
Neil, I will also say in Howard’s favour, it is easy to be right, in hindsight. I am not even saying that Howard should have been aware of the unseen outcomes at the time.
Neil, it is not about demonising Howard. It is just about stating a fact.
Rudd was wrong to side with, and put in place, Howard’s tax cut. Yes, Neil, Rudd was wrong.
Is that clear enough.
Neil, the past has gone, we cannot change.
What is important, is what is done from now on.
It is important we get from Abbott, facts and figures, details of policies. Slogans and motherhood statements are no longer enough.
Hah, quite ironic that you should talk about comprehension. Still don’t use question marks, I see.
The North Sydney Member’s demeanour
Could’nt be very much keener
But his actions are that
Of a fat spoiled brat
With it’s hand firmly wrapped round it’s wiener.
Tony and Joe, we hear so much from you about the damage the MRRT. A tax that is only payable if there are super or windfall profits. One that does not collect much now, as the windfall profits have evaporated. A tax that only was p[aid by a small number of miners anyway.
Joe and Tony, why not attack the states, which have raised royalties, a tax that does hurt all miners, and has nothing to do with profits.
Royalties are paid by all, regardless of profits.
Joe and Tony, why so quiet?
frontad84, Nice one.
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