Facts speak louder than statistics

Saturday, 7 February 2015

The Howard Era In Plain Facts And Figures

One thing Labor supporters like to do in defence of the Rudd/Gillard era of economic vandalism and the high borrowing ways of Labor in general is to pretend that the Howard era was actually a debacle that was of no benefit to Australia. They’ll bleat that the only way the Howard government paid down debt was by asset sales and follow this with claims Howard had left the country economically in bad shape.

Somehow this perspective justifies Rudd/Gillard taking Australia from a negative debt position to over $350 billion worth of debt within six years. Howard paid down debt by asset sales after all, Labor could have done that, anybody can do that so runs their logic. This of course ignores that it was the Hawke/Keating Labor government that got the asset sales ball rolling. $3 billion worth of assets were sold outright and $3.4 billion in shares were sold only the money obtained by Labors asset sales didn’t actually pay down debt.

So without the spin let’s take a look at the situation and the numbers, in 1996 the Howard government inherited the $96 billion debt from the previous Fraser and Hawke/Keating governments. To pay down this debt the Liberals continued with the Labor policy of selling assets. $11 billion worth of assets were sold outright and $53 billion in shares were floated for a total of $64 billion that was used to pay down the debt.

$96 billion minus $64 billion leaves $32 billion, this remaining amount was also paid down and not by the proceeds of asset sales. Not only was the debt paid but there were regular budget surpluses and by the end of the Howard government the Future Fund was in place holding $50 billion and there was $20 billion in the bank that was providing the budget with $1 billion in interest per year. If this was all solely down to the asset sales without any real economic skill then the Howard government certainly knew how to stretch a dollar.

During the nine years of the Howard government Australia functioned as a welfare state, was running continued budget surpluses, unemployment was low, the cost of living was at reasonable levels and the debt was gone.

Under the subsequent Rudd/Gillard government the surpluses were gone, the money in the bank was gone, the debt was back bigger than ever and accompanied by corresponding cuts to services and welfare to help fund the interest repayments. Job losses were high, business closures were high and the cost of living was exceptionally high yet it was actually Howard who left the country in bad shape?

The facts and figures say otherwise.

Refer to http://www.finance.gov.au/property/asset-sales/past-sales.html for information regarding the asset sales.

Sunday, 1 February 2015

Queensland Election 2015

There is a belief out there that the ALP have learned their lesson from their 2012 defeat and they are all penitent and wouldn’t dare do the same things again. The fact they presented themselves as the saviour of Queensland and the LNP as the people wrecking Queensland just shows us the deception continues with the ALP.

They were presenting the proposed asset leases by the LNP as asset sales and as the worst thing anyone could do and behaving as if their own hands are clean on the issue. After deliberately going into the 2009 election concealing their true plans they started selling or leasing assets as well as cutting services. The actions taken by the ALP massively pushed up the cost of living in Queensland.

The reason the ALP sales and cuts is because they had taken Queensland’s debt from $15 billion to $89 billion in the space of a year and needed funds to pay the interest on the debt. The debt didn’t decrease though as they kept on borrowing.

This election result and getting themselves voted back in at all has been an amazing feat by the ALP, they created the problems Queensland has, they cast the people trying to fix the problems in a bad light and then the ALP presented themselves as the people to fix everything.

And the LNP got voted out for doing the job they were voted in to do.

Gimme Gimme Gimme! After All If You Can't Beat Them, Join Them.

By Annie Ozard
Well, I have to congratulate Labor/Union Party on what looks like being a win and certainly a loss for Campbell Newman. The swing must be massive, but did Labor gain this swing, or are the people of Queensland completely unaware of what they have done? Yes, I believe that is what has happened.
Firstly, until the people of this once fine country, wake up to the fact it is impossible for a government to set and execute an agenda within 3 short years, particularly if left a fiscal mess as the LNP was, we will continue along the path we are going, which is self-destruction.
Secondly, until our two major parties have massive shake-ups we will continue to have the only option of electing people that do not have the capability to run a multi-billion dollar "organisation". Many of our "representatives" are there because they can't get a job elsewhere or because of the need for greed and/or power. These are not the types we want or need.
Thirdly, until the younger generations of Australians cease with the "gimme gimme gimme" attitude (and a few older generations), our country will forever be the mess it is now.
On that note, from here on in, I shall join many in this group and become part of their "gimme gimme gimme" society. No longer will I sit back paying taxes and getting nothing for them. For every tax increase imposed or, in the case of a Labor government every deficit increase, I shall demand more and more and more.
YEP, if you can't beat 'em, join 'em running this country into the ground.