If words are bullets, then Prime Minister Gillard has fired a big round with her stunning statement that ‘all options are on the table’ to recover a budget situation that is spiralling out of control. ‘All options’ means that things like capital gains tax on the family home, to more hits on superannuation, to ending negative [...] Continue reading » » »
Labor’s debt goes up & up & up!
In Parliament this week, Wayne Swan constantly shied away from repeating his promise that Labor’s debt, which is subject to a debt limit, would be below $250 billion by the end of 2013. He then refused to rule out further increases above the current limit of $300 billion! Remember this is the government that in [...] Continue reading » » »
Australia’s debt approaches $250 billion limit
As at 22 September 2012 Australia’s debt is over $248 BILLION (or $248,126,000,000 to be precise). This is an increase of over $2 BILLION IN JUST THE LAST WEEK (see the Australian Office of Financial Management website at www.aofm.gov.au). So despite the Labor-Green Government’s projections that debt would remain below $250 billion this financial year, we are already [...] Continue reading » » »
Treasury points to hard economic road ahead
Consider the following concerning quotes from Treasury Secretary Martin Parkinson during a speech last week. He highlights how hard it will be to recover from the unprecedented economic mess the Labor-Greens Government has created since 2007. The question Australians must ask themselves is which side of politics should be trusted to pay down this debt and [...] Continue reading » » »
