Wayne Swan: economic numpty

[Aussie]

Heheheheheheheehe!!

If Abbott gets up in September......his Treasurer is not likely to be Barnaby Joyce.

Gotta believe in Polls, wot?

[Jovial_Monk]

GST been removed from Tone’s Tax White Paper, the day after it was floated by Hockey. Tone’s PPL is looking shaky, the clown will have Debt! and Boats! to campaign on.

[IQS.RLOW]

How's that polling working for ya, jizzgobbler?

[Rorschach]

Yeah—typical of numpty Abbott—we have “a Budget emergency” (told they are dying to impose austerity) but has no savings so, again, waves through the Labor savings) but “can’t” say what they are going to do until after Costello tells them to impose austerity and privatise what is left to privatise, just as in Queensland.

The fuckwits will precipitate a recession so deep that it will take more than the normal 8 years to recover from!

You can see that now, if you care to look.

gee if it aint an "emergency" why are labor backing out of promises and cutting even the most needy's welfare? hmmm...

You ALP slobs are jokes.

[Aussie]

Hahahahahahahaha.......looks like we can legitimately blame Hayseed for the alleged 'budget emergency.'

The underlying position of the federal budget has been in a deteriorating trend since the early 2000s and is only now showing signs of improvement, the Parliamentary Budget Office (PBO) says in a new report.

The PBO's first report on the so-called structural budget balance (SBB) provides estimates from 2001/02 to 2016/17.

The SBB is a measure that looks at the sustainability of the budget and takes into account major temporary or cyclical factors that affect the underlying position of the budget.

It estimates the SBB has declined steadily over the period 2002/03 to 2011/12 and expects the budget will remain in a structural deficit until at least 2016/17.

"At the same time, the government's balance sheet is in a strong position," the independent PBO says in the report.

It says government net debt is low by international standards and forecast to peak at 11.4 per cent in 2014/15.

"This provides a degree of fiscal space for the government to continue to address the underlying structure of the budget and maintain its sustainability," it says.

From a structural surplus in the range of 1.75 per cent to 3.25 per cent of gross domestic product (GDP) in 2002/03, it moved to balance somewhere in the period of 2006/07 to 2007/08 before falling to a structural deficit of 3.25 to 4.25 per cent of GDP in 2011/12.

"It then showed a sharp improvement in 2012/13 with the structural deficit recovering to around 1.5 to 2.75 per cent of GDP," the PBO says.

[IQS.RLOW]

Aussie: Economic numpty

Can't read either

From a structural surplus in the range of 1.75 per cent to 3.25 per cent of gross domestic product (GDP) in 2002/03, it moved to balance somewhere in the period of 2006/07 to 2007/08 before falling to a structural deficit

So the actual structural deficit only ever occurred under the ALP.

Howards SBB was either balanced or in surplus

[Aussie]

The underlying position of the federal budget has been in a deteriorating trend since the early 2000s and is only now showing signs of improvement, the Parliamentary Budget Office (PBO) says in a new report.

[IQS.RLOW]

Bwhahahahahahahaha
Never in deficit under Howard...only under Swan.

A decline is just a line. It was the ALP that made it intersect with 0 and sent it negative

[Aussie]

Bwhahahahahahahaha
Never in deficit under Howard...only under Swan.

A decline is just a line. It was the ALP that made it intersect with 0 and sent it negative

Hey, I didn't write that Report. Argue with the PBO, not me.

It seems that this alleged 'budget emergency' is just crap.

[Jovial_Monk]

Chris from Access Economics pointed this out early in the oughties. Not rocket science—giving tax cuts based on ephemera like asset sales and a credit–fuelled spending boom like 2001–7 means when no more assets or no more boom—Budget is in trouble. Add in our worst–ever PM’s irresponsible spending to buy elections and spread pork—voila, structural Budget deficit.