It’s an absolute pleasure to have the current political conversation flatulating around the edges of the government’s revenue sources – and the get-rich-quick schemes that could be used to extract more money out of us. Meanwhile, $40 billion annual deficits are still being cranked out (see also above graph) and our $400 billion debt will be added to for years to come.
Continue reading “Editorial – More Taxes Won’t Fix the Budget”
Malcolm Turnbull’s justification for replacing Tony Abbott was that he could provide better economic leadership. Six months on, how much longer should we have to wait for the evidence?
Continue reading “Editorial – Turnbull’s Twisting in the Wind”
Federal Labor appears to think that the government is spending too much money by putting $6 million into developing a smartphone/tablet language app for children.
Given that Labor annihilated well over $400 billion of our money on ill-conceived junk, its comments here are about as useful as a convicted paedophile giving child healthcare tips.
Turnbull and Morrison simply refuse to accept any responsibility for fixing the federal budget. To recap, we have:
The moment Turnbull took over as Prime Minister, I wrote that his biggest challenge was getting the budget back in order, particularly in respect of the serious spending problem that we have.
So far, the talk has been about increasing the GST and increasing taxes on super for anyone earning more than $36,000. Hmm.
In 2006, the federal government had $45 billion in net assets (4% of GDP). Today, it has a cataclysmic $400 billion debt on the books, which is budgeted to grow to $480 billion within the next four years.
Continue reading “What Did We Get for Our $400 Billion Loan? (Part 1)”
The hunt for where our money went continues here in Part 2:
Continue reading “What Did We Get for Our $400 Billion Loan? (Part 2)”
The hunt for where our money went continues here in Part 3:
Continue reading “What Did We Get for Our $400 Billion Loan? (Part 3)”
Emily Moulton of news.com.au asks whether WA squandered its ‘mining riches’:
IT HAS been billed as a once in lifetime boom, one that brought unprecedented riches to the ‘wild west’. But what has Western Australia actually got to show for the mining boom?
For many years, WA was long been regarded as the poor, long-distance cousin, the one you saw at family get-togethers but never really paid much attention to.
Aside from demonstrating her sheer ignorance to a whole state of people and the contribution they have made to our country (17% of national GDP in 2013-14), Continue reading “At Least WA Has Something to Show for it’s Debt”
When is someone in the mainstream media going to hold Bill Shorten and Labor to account and ask the obvious questions on their plan to ‘modernise’ Australia’s energy production? Here are some to get started with:
The Marcus Review 