I see so many still want to yabber about the ALP. Who has been in government the last 6 years by the way and why is the economy such a mess. You would think with the rubbish posted on these threads that the ALP has been in charge last 6 years. So a recap of the mess: 1. Spiralling debt with no return since the LNP doesn't really like spending on infrastructure. Then the latest tax cuts - especially the $1080 offset has the smell of Rudds $900 cheques that many posting here have bagged in the past. I think the $1080 might help the economy, but the economy is in far worse shape than when Rudd gave the cheque. 2. Love of Laffer means more govt debt, full stop. Laffer only works when you have other policies that discourage the benefits of tax cuts either flowing i.) to offshore multinational/non residents of Oz or ii.) into unproductive sectors like housing. A lesson on Laffer and budget deficits - refer USA since Reagan economics LOL. 3. Low interest rates and low inflation is a sign of a sick economy. Even the RBA is worried - the RBA has no further triggers to unleash if the economy tanks further btw so back to govt. 4. Underemployment is rife despite the official unemployment rate been 5% because people want to work more hours and now the workforce is loaded up with casual and part time workers who want more hours (unlike the 1980s where full time work was the norm). If we had this unemployment rate in the1980s there would have been wages growth - i thas finally dawned on the head of RBA too to look beyond headline employment ABS numbers because according to the ABS work 1 hour a week you are considered employed (despite clearly you been underemployed).
