Labor Debt

[tom]

Just thought I would share this as it is pretty frightening when you actually realise the debt Labor is racking up each day, those millions tick by pretty quickly. This is no way sustainable and as they have no financial skills they resort to one big fix which is to tax the miners, which is not a fix and not sustainable. I fail to see how they could possibly pay any of this back with their policies and management of money, let alone after all the recent election promises, all spin just to get back into government.

{loadposition rudddebt}

[Death Ray]

Yep, who really wants another 3 years of these clowns......

[ellicat]

I think you should get used to the idea...It's looking very much like

the ALP/Greens coalition will get the nod on 21 August.

[rayke1938]

no comment its a fishing forum not a political one.

Cheers

Ray

[Gad]

TV,Radio and print media get paid,so I hope the site is getting large financial donations for political party advertising.

[robin]

Actually I was going to say something like that, I come to this site to read about fishing, not about political crap, All i know is that all pollies lie and are currupt, we can either vote for a backstabing red head or a pencil head.

[snapsnap]

why open the post when you know Its not about fishing??

[ellicat]

It is election time, so no doubt some members will feel the need to air opinions.

All good as long as everyone shows respect for everyone's opinion....even if it is the opposite to their own ( and even completely wrong on occasion lol).

Some of us follow politics as closely as the footy and fishing....it's quite entertaining.

[Angus]

snapsnap wrote:

why open the post when you know Its not about fishing??

While I personally dont get involved in poltical discussion ever on this forum, this is the General Chat section of the forum which can be used for completely Off Topic chat. My advice to anyone reading any forum, "if it doesnt interest you, dont read it".

In saying that please keep any political discussions civil. Opinions are opinions and thats fine. However if it degenerates into slung by monkeys fight than it will be cleaned up.

Cheers guys.

[robin]

Actually I was going to say something like that, I come to this site to read about fishing, not about political crap, All i know is that all pollies lie and are currupt, we can either vote for a backstabing red head or a pencil head.

Yer I think i wrote this it kinda came out the wrong way and not what i ment, so my bad on that part, and yer this should not become a brawl, what i was meening, was that both party sides are as bad as each other, and no matter what they promise you, its most likley will never be anything other then words, Im more of a person that will base what i think on what they have done, not what they say in there campain.

Maybe one of us on here should become one, then it will be more fishing holidays for all heheh.

[daveylad]

Angus wrote:

snapsnap wrote:

why open the post when you know Its not about fishing??

While I personally dont get involved in poltical discussion ever on this forum, this is the General Chat section of the forum which can be used for completely Off Topic chat. My advice to anyone reading any forum, "if it doesnt interest you, dont read it".

In saying that please keep any political discussions civil. Opinions are opinions and thats fine. However if it degenerates into slung by monkeys fight than it will be cleaned up.

Cheers guys.

Totally agree angus, I posted one thread about Abbott and that was Fishing related regarding the Coral Sea Protection Zones being scrapped.

[crazywalrus]

I have to say I do not concur with you Robin. Although I have strong feelings against some political parties I do believe that every politician believes they are doing the right thing obviously driven by political expediency. Each party runs on its own political agenda and believes in what is doing. What we need to do is become informed about what these parties stand for and make the correct decision for the country and our lives.

Personally as a fisherman I am concerned about a Labor/Greens government as the last three years has seen a lot of conservation areas proposed with little to know consultation. With the Greens on board I can only imagine this will proceed at a quicker rate. There has to be some payback for the preference deals. Also If the swing is not large to the libs and goes to Labor and the greens the incoming government and Greens will have the balance of power in the senate which means there will be little debate. my 2 cents worth.

[waldo]

This is totally non fishing related. If it was to do with the government introducing green zones or opposing or supporting fishing fair enough but this is just blatent political opinion. I have walked away from a few other fishing forums and will walk away from this one also if it is politicised by members. Plenty of online political venues if you feel the need to vent.

[Keen-as-fisho]

Quote from south park, 'At the end of the day you are either voting for a giant dush or a turd sandwich'. Which is to true but in my opion (and I stress it just my opion) politics sux and labor sux even more. Goverment projects ie roads, bridges, rail is not domestic/comercial construction therefore it does NOT run the economy, the way the houseing industry does. (Doesn't sound the way I want it too but the tradies amongst us might understand what I'm saying).

[hooked_on_trout]

so is that 85 Billion?

thanks

[AFO]

This is the General Chat forum category which as the description says is a:

Category for general chat for topics that are about non-fishing things.

So this forum category is specifically for non-fishing related issues (eg Broncos, weather, politics, general stories etc)

The AFO forum is open to all discussions on any subject matter as long it is in the correct category. If you only would like to read about a certain topic please only read the relevant categories for those topics.

[rayke1938]

Tom I would suggest that you get your facts correct before posting information.

The figures that you have posted are for the Australian National debt.

That is all forms of borrowing by all ,governments local, state and federal.It may also include business and private borrowing maybe one of the accountants on the site may be able to clarify.

Not just the federal labor government that you are attributing it to.

All forms of business rely on debt to operate and develop. If credit was to be cut ( Which is what happened in the meltdown) everything would grind to a standstill and you could go fishing everyday as you wouldnt have a job.

In fact you would have to go fishing to feed yourself.

The australian credit card debt is $48,446,712,527.00.is this the governments fault?

I admit that the stimilus package did create a lot more debt and could in some instances have been spent more wisely but it did and still does keep a lot of people in jobs.

To get the state by state figures google the debt clock and also compare with other countries to get a ballanced view and realise that we are a lot better off than other countries.

The average debt per citizen in Australia is $10,000 in USA $42,000 and in the ratio of debt to gross domestic product Australia doesnt even make the top 10. It is quite surprising some of the countries up there. Japan at the top and China no 10.

Just goes to prove that you have to compare apples with apples

Cheers

Ray

[tom]

I think ill let the picture below explain the situation. You cannot say comparing to different economies like the powerhouses of Japan, USA and China is apples with apples, we don't even compare with them and do not have the financial capabilities to sustain such a large debt and the ability to pay it back as they do.

The mid year economic update forecast net debt for 2009/10 at $45.1 billion, increasing to $90.3 billion in 2010/11 and peaking in 2013-14 at $153 billion; which represents around $7,000 for every Australian man, woman and child.

Based on these figures, interest repayments alone over this year and the coming three years are set to average $12 billion – enough to build close to 20 new, world-class hospitals a year

The previous Government demonstrated the sustained discipline needed when it paid off the $96 billion in net debt it inherited from the Keating Government.

[ellicat]

Ray, the figure does not include private borrowings (you, me, businesses etc). That is called Private Borrowings. Tom's stuff is Public Borrowings. Private Borrowings are approaching 1 trillion dollars :ohmy: , but we do all the work and earn all the dollars for the government to tax so that is not as scary as it looks.

I admit that the stimilus package did create a lot more debt and could in some instances have been spent more wisely but it did and still does keep a lot of people in jobs.

I'm trying to leave this topic alone, but I can't let this one pass. The truth is that if the government had spent the dollars on the promises made before Kevin 07 got the nod then there would have been little (if any) need for the stimulus package.

Something else that is annoying me is the government keeps saying that one of the benefits of it's tax reforms is that it will give more money to superannuation for employees. This is completely misleading and deceptive as the government doesn't contribute to employee super (apart from their own employees). The employer i.e. businesses pay it. For a lot of small business employer companies the 2% tax reduction will be gobbled up by this added cost of super.

I wish I was in a different electorate so I could vote for my choice of party, but they don't put up a candidate here. My greatest fears for this election are the Greens and the possibility of a Carbon Tax.

[Death Ray]

I'm trying to leave this topic alone, but I can't let this one pass. The truth is that if the government had spent the dollars on the promises made before Kevin 07 got the nod then there would have been little (if any) need for the stimulus package.

Too right, but sadly too late We could have spent much less if the Govt had just did what is said it was going to do in 2007!!! Where to from here is scary

[tugger]

With this topic about debt even the liberal party admits they would have gone into debt during the global financial crisis to keep our economy ticking over but they said it would have been less than the labor govt has done. The liberals never said what amount but concede they would have had to borrow for a stimilis package themselves if they were in power.

Every govt around the world has done this and australia kept itself out of recession in doing so with the similis which meant jobs were created and the economy benefited. the rest of the world has strugled and jobs lossed by the hundreds of thousounds in each developed country so we have come out of it well.

I believe we had to borrow this money and inject it into our economy and not delay with getting these projects up and running quickly which meant not everyone was scutinised closely. For example these projects like school buildings were underway in quick time but kept jobs in the comunity which all helps keep the money going around in the economy. The other benefit is now we have got something to show for it at the end of the day as i know these buildings are some of the first new infastructure alot of schools have received in a long time.

Money also went into roads and ports which will make our country more effeceint when the need for our resources takes off again as we had bottlenecks with ships unable to take enough minerals out with the demand.

[ellicat]

The boys have it summed up well as usual - :laugh:

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