Treasurer Wayne Swan’s promise that he will fix Labor’s $120 billion black hole in the May Budget sets a new standard for shamelessness. Mr Swan has presided over $160 billion in debt and promised over 200 times to deliver a surplus, only to fail. Given his failure to deliver a “rolled gold…iron-clad…failure is not an option…guaranteed” [...] Continue reading » » »
Time to listen to your own Departmental Secretary Mr Swan
The Reserve Bank’s decision to cut the official cash rate on 4 December 2012 might be good news for the third of Australians with a mortgage, but not so good for those relying on income from fixed interest. Importantly, the Reserve Bank’s decision to cut rates reflects deep concern about the Australian economy. A deteriorating non-mining [...] Continue reading » » »
Labor borrows, spends, wastes
The attached article by the Financial Review is a ‘must see’ and I encourage you to share it. The maths is depressing and shows that future governments may need to raise $120 billion – or almost $20,000 for the average four-person family – by the end of the decade to pay for Labor’s spending commitments. [...] Continue reading » » »
Labor – Greens Misdirection
Don’t be fooled by the very fake Labor-Greens divorce that has just got underway! With about a year to go till the next election, this is a familiar tactic to make you forget that Prime Minister Gillard and Dr Brown signed a formal agreement two years ago to form Government. From now on, the language [...] Continue reading » » »
