Bill Shorten - opposition leader

[IQS.RLOW]

Bill Shorten is also a rapist and a wife cheater.

[Rorschach]

Nice family snapshot obviously a close family relative of yours...

Got nothin' again I see Trollanoid...
Mantra spews a lot of falsehoods and you lap it up like a good lap dog...
Oh and of course you are not biased at all
We used to have a mantra topic just for her lies... I can see it might be making a big comeback.
Of course she may just be confusing stuff she doesn't understand.
Maybe you could explain it to her.

[Rorschach]

It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.

[mantra]

Mantra spews a lot of falsehoods and you lap it up like a good lap dog...
Oh and of course you are not biased at all
We used to have a mantra topic just for her lies... I can see it might be making a big comeback.

I provide links for 90% of my posts which is more than you and IQ do. Calling Shorten a rapist is a lie.

You can't deny the Coalition borrowed $200 billion shortly after they got into power. I back up almost every bit of information I post, the other 10% is my opinion and that's permitted here. You don't like my opinion - tough.

You lie even when the facts are shoved in your face. Maybe we need to start a thread on Roach the liar instead and see how you like it.

[skippy]

It doesn't look like Mantra is making things up. Google it there are pages of articles saying just that this is but one of them.
[url]http://www.crikey.com.au/2014/10/27/coa ... bt-and[url]

First, it shows that the Abbott government is on track to double the debt left by Labor — by about Christmas next year. Second, it confirms budget deficits will also double those projected under Labor over the next four years. The third item implicit in the document — although not exactly spelled out — is that Australia’s debt is not “spiralling out of control” and never was. Fourth, this was a timely release of finance data — within the month — for the first time since the May figures.

I can see the next election now
Abbott" Labor built up billions of debt in their two terms"
Shorten" The coalition doubled it in two years" .

[mantra]

You really are incredibly ignorant IQ. You think now the Coalition is in power - you can shut your eyes to what they're doing. You can't. They're useless and so are you. Go buy some glasses so you can keep up with the news. The debt was $268 billion when Labor left office - now even with all this cash they're splashing around - they still can't get the budget in surplus.

They borrowed another $200 billion 12 months ago.

Treasurer Joe Hockey will raise the ­government’s debt ceiling by 66 per cent to half a trillion dollars after flirting with scrapping the limit altogether, to avoid being caught short of cash in the event of a crisis.

In the end, the government opted for a hard limit to maintain spending discipline of ministers as Mr Hockey ramps up the job of wrestling the budget back under control.

In a sign of the ongoing deterioration in federal finances, on Tuesday Mr Hockey indicated the government’s peak debt was expected to exceed $400 billion within four years.

Mr Hockey, who last week witnessed in Washington first-hand the bruising battle over the US debt ceiling, opted to give himself an additional buffer of between $40 billion and $60 billion to avoid having to revisit the issue in coming years.

“I want to have this dealt with,” he told The Australian Financial Review.

The new limit, which needs to be approved by Parliament, startled bond market experts for its size.

It is understood the Australian Office of Financial Management urged the government to make provision for “lumpiness” in its issuance program, particularly when it rolls over existing bonds.

The current debt limit of $300 billion is forecast to be exceeded in December. Treasury anticipates the total value of Commonwealth government securities on issue will hit $370 billion by 2015-16.

The limit was introduced by Labor in 2008 and set at $75 billion. It was increased to $200 billion in 2009, $250 billion in 2011-12 and $300 billion in last year’s budget.

In May last year, Mr Hockey referred to the then Labor government’s plan to raise the debt ceiling to $300 billion as increasing the “credit card”.

Budget forecaster Chris Richardson of Deloitte Access Economics welcomed Mr Hockey’s decision, saying he was right to focus on debt and not the debt limit.

“The only better thing they could have done is take the debt limit out the back and shoot it – it’s just a dumb idea,” he said.

“We’ve just seen the US ­self-inflict wounds on this stuff.”

Mr Hockey, who met with ratings agencies last week, told the AFR he expects the US debt ceiling to again lead to a political crisis in the world’s biggest economy once last week’s negotiated extension expires in January.

Opposition finance spokesman Tony Burke highlighted the fact that the ­political party that had promised to reign in debt during the election will now ask for permission to have it raised to $500 billion.

This is a very different government to what Australians were being told they were electing,” he said.

He said Labor would look at the issue of the debt ceiling “and deal with it responsibly” when it came before Parliament.

Colonial First State economist Stephen Halmarick said the need to raise the debt ceiling was obvious from former Treasurer Wayne Swan’s last budget in May.

“It’s a good thing that the Treasurer is getting on to it early and to increase it to a level where we won’t have to revisit the issue – that’s different to the situation in the US,” he said.

Triple-T Consulting’s Sean Keane said the increased debt availability would make it possible for the government to build the large infrastructure projects Prime Minister Tony Abbott had spoken about.

“It would suggest that the new PM will look to move forward with these in 2014. If that proves to be the case then the Reserve Bank of Australia’s domestic growth concerns may be eased,” he said.

ACIL Tasman executive director Stephen Bartos, a former deputy secretary in the Finance Department, questioned the focus on the debt ceiling, saying it was far more important how the government tackled the long-term budget problems. “Making major structural changes is always hard,” he said.

Nomura fixed income analyst Martin Whetton was surprised at the size of the new limit. “It implies that there may be some caution on the revenue and debt situation over time,” he said.

The reaction of the bond market to the lifting of the debt ceiling was muted. The three-year government bond yield fell by a single basis point to 3.09 per cent in Tuesday trading, while the 10-year bond declined by a basis point to 4.10 per cent.

“Taking it up to $500 billion will remove any political haggling, which we’ve seen in the US,” said Westpac fixed income analyst Timothy Jung.

“But it’s a big number and implies a much bigger supply programme. I wouldn’t expect any short-term reaction but the market may have some questions in the future.

“The big question is how the offshore market views the increase given they own 69 per cent of our bonds.”

http://www.afr.com/p/markets/joe_hockey ... gLcJ2slKoK

[mantra]

The money has been borrowed. We are paying interest on it. We don't know what they have been spending this cash on. We know $9 billion went to the Reserve, but what are they doing with the rest of it. This secretive government tells us nothing.

In 12 months they have effectively doubled our debt. Yes - I know the budget is separate to the national debt, but Hockey still got that very wrong. They promised a surplus in their first year.

The Treasury has now borrowed $500bn, consistent with the government' initial position.

A spokesman for Mr Hockey said the decision was in line with the legislation passed in December and "satisfied funding and operation requirements".

Shadow treasurer Chris Bowen said it was a classic example of the Coalition saying one thing before the election and delivering the opposite after.

http://www.theaustralian.com.au/nationa ... 6811422767

[IQS.RLOW]

Treasury has borrowed $500bn not the govt you stupid bint.

It's because the previous govt racked up so much debt that the overhead borrowing power needed to be raised to deal with on going business of running the country.

You have no understanding of economics, so you should just shut your lying cake hole until you understand what you are dribbling about.

No one heard a fucking peep out of you when the previous govt went from having $20bn in the bank to $300bn in real actual debt.

You really shouldn't comment on shit you know nothing about, especially if you are going to lie about it.

[Rorschach]

Mantra spews a lot of falsehoods and you lap it up like a good lap dog...
Oh and of course you are not biased at all
We used to have a mantra topic just for her lies... I can see it might be making a big comeback.

I provide links for 90% of my posts which is more than you and IQ do. Calling Shorten a rapist is a lie. But you seem clueless re what you are writing mantra... how about posting where the government borrowed $200 billion dollars? As for Tourettes... I have him on ignore and I certainly said nothing about Shorten and rape.

You can't deny the Coalition borrowed $200 billion shortly after they got into power. I back up almost every bit of information I post, the other 10% is my opinion and that's permitted here. You don't like my opinion - tough. Yes i can deny it and You have so far failed to prove it.

You lie even when the facts are shoved in your face. Maybe we need to start a thread on Roach the liar instead and see how you like it. You keep digging deeper and deeper with your hatred and will find you will need to apologise yet again.

[IQS.RLOW]

Shorten being a rapist is on par with the type of shit you dribble out on your keyboard every fucking day.

Maybe get a job or go back to school so you can educate yourself and not come across as a fucking liar.