Second stimulus package

[Jovial Monk]

$42Bn

MAIN POINTS
The federal government's $42 billion Nation Building and Jobs plan is aimed at stimulating the economy and supporting up to 90,000 jobs during the next two years.
It includes:

* $14.7 billion to be invested in school infrastructure and maintenance and bringing forward funding for trade training centres;
* $6.6 billion to increase the national stock of public and community housing by about 20,000 new homes;
* $3.9 billion to provide free insulation to 2.7 million homes and solar hot water rebates;
* $890 million to fix regional roads and blackspots, to install railway boom gates and for regional and local government infrastructure;
* $2.7 billion small and general business tax break to provide deductions for some equipment purchases before the end of June 2009;
* $12.7 billion for immediate one-off payments to working Australians, families with school-age children, farmers, single income families and for those undergoing training.

A budget deficit of $22.5 billion, or 1.9 per cent of GDP, is now forecast for this financial year.

http://www.theaustralian.news.com.au/bu ... 43,00.html

[White Indigene]

Soon we might be like Mugabageland.

It will cost more to print the money than it is worth.

But I spose one good bit about the whole arrangement is that we might be able to by Zimbabwes printer if ours breaks. No tarrifs, empty docks, trade surplus, and they are going cashless so wont need theirs.

Tarrifs is too late now anyway, the the horse has bolted. Or, more to the point, the ship is rudderless, adrift, and looking for social salvation and more.

Where o where me pirate hearties be? Ahoy Capn, there they be, yonder across them all flat seas. An armada, a squadron, oh me hearties let me see. Quick Capn "We look like a party of junketeers who dont expect to be in office too often or long".


Argh Argh Argh

[Jovial Monk]

I don't think money will be printed.

And tariffs won't work--you will see that when/if a trade war breaks out.

[Jovial Monk]

Fuck Attabull raves on!

Still raving on about stuff he was raving on about 12 months ago! Does he have an economist advising him? Dear god, he is not relying on fucking Costello, of all people, for economic advice?

He is quite wrong according to economists I have read, Peter Martin, Josua Gans, John Gittins etc etc

[Jovial Monk]

Rudd is blasting Uturnbull out the water in QT!

[Ethnic]

How much of that money goes to bureaucrats?

Hopefully it will work but I wouldn't be surprised if it doesn't.

[Jovial Monk]

In the Great Depression the 'Premiers Plan' of cutting spending/public service numbers&wages/cutting pensions meant we had the worst/deepest/longest Depression of all comparable countries. Even burocrats spend!

[TomB]

So, once again I am going to get fucking nothing from this package and yet ironically I'm in a good position to be able to spend anything that could have been given to me. So I will concentrate on conserving my existing resources and ride out the crisis without doing anything to help. Fuck you Mr. Gummint.

[Jovial Monk]

It might save your job?

[TomB]

Things will have to get a lot more dire before my job is under threat.