🚀 go-pugleaf

blofelds_cat wrote:
> Lu R wrote:
>
>> Kevin Rudd is reversing the damage that 11 years of LIEBERAL policy
>> has inflicted on the workers and poor. Of course Turdbull is going
>> to whine when he sees the less advantaged get a cut of the action!
>> Its time for a New World Order where wealth is more evenly shared
>> amongst the people rather than just handed to CEO's.
>>
>>
>>
>
> Yes, Krudd is reversing the 11 years of effort that the Liberals put
> in paying off Labor's debt and painstakingly restoring Australia's
> prosperity, and as you correctly noted- a significant achievement in
> itself for someone so completely grounded in unreality- that took
> eleven years. But then the unwashed masses, brainwashed by Labor and
> Green ideology, and who were mostly too young and naive to have
> experienced the destruction that Labor causes, voted into political
> office a bureaucrat with virtually no political experience and who
> has now in just over a year completely negated those 11 years of
> painstaking effort. So now the only question remains, how big will
> Labors debt be THIS time, and how long and how much taxation will be
> needed to pay for it. You see it's a very basic principal, that if
> you spend money you don't have you create debt that you have to repay
> somehow sometime with interest. This is often described as 'short
> term gain, long term pain'. But since you're a Labor supporter I know
> you'll never understand these things, unfortunately. But do enjoy
> yourself working your butt off, if you can find work that is, paying
> for Labor's folly this time round.

If the Libs were still in power they would have to go into deficit as well.
Maybe not as quickly as Labor are with their attempt to mitigate rising 
unemployment with their cash handouts and infrastructure spending.
The vast bulk of the forecast deficit will be caused by collapsing 
Government revenue to the tune of  $180 billion due to the world recession.
If the Government didn't borrow the money what would they do? Raise taxes 
and cut Government expenditure forcing up unemployment.
Spiralling unemployment leads to increased house foreclosures leads to crash 
in property values which causes more problems for the banks.