cgt when was the last time Labor produced a surplus? How many times since then have they promised a surplus and failed?
We have gone from $20B surplus to $80B debt and for what benefit exactly?
Jobs? Data shows the extra jobs kept in construction with the stimulus equates to around $450,000 per job. Hardly value for money.
Inflation? Higher and as a consequence our interest rates are higher than they should be.
Housing? At a time when house prices were at historical highs and interest rates lower than they should be Rudd encouraged people to become first home buyers in order to prop up the housing market. What was the result? House prices coming down anyway and they have much further to drop, but even worse the 'next generation' of house buyers are already owning houses and approximately 30% of them are classified as 'under stress'. What will happen to house prices when they are forced to sell?
Debt? We have gone from $20B surplus to $80B in the red. Total debt level ceiling was $70B under the Libs. It is now $250B under Labor in just 4 years.
Economy? Outside the resource sector, and that sector's ongoing health is scarily dependent upon China not imploding, most other sector's are facing conditions pretty darn similar to a recession. Add in an inflation rate higher than 3%, and probably closer to 6% if the CPI figures were not so heavily manipulated, and most people think they are worse off.
But no worries no doubt your solution to all this is more stimulus!
