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The response in an economic sense was good? What planet are you...

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TheSpaniard

2,356 Posts.

449

08/03/23

18:29

Post #: 66664528
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Originally posted by squidd: ↑

What exactly did you want the Government to do during COVID?

Their response in an economic sense was very good. It was exactly when you should be deploying debt.

Also, when does 100% of Government spending ever fall down directly into the GDP figure?

When the Government hands out money, people & businesses can decide to;

- Save the money

- Pay down debt

- Spend the money on imports

- Travel overseas

etc. All of the above don't contribute $1 to Australia's GDP. This concept that debt taken on by the Government would all magically hit the GDP figure is just wrong. A lot of the debt taken on during COVID also by and large replaced economic activity that had otherwise stopped due to shutdowns etc. It didn't increase GDP.

The LNP had the debt/GDP figure stabilised (& falling) by 2019. Then COVID came along.

Cheers!

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The response in an economic sense was good? What planet are you living on. Debt multiplied, businesses ruined, supply chains disrupted, inflation rampant, interest rates (in modern terms) sky-rocketing, education paused. The response to Covid was an economic disaster, and moreover it didn’t work, with the truth now seeping out.

Last edited by TheSpaniard: 08/03/23
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