Comments on “The budget that got away”, see Mumble Blog, 10/05/2011 on the day of federal budget, http://blogs.theaustralian.news.com.au/mumble/index.php/theaustralian/comments/tough_budget/
It is hard to understand why we have to had such levels of deficits, to the tune of $51 billion this financial year and $20 billion next financial year, given that, first we didn't experience a recession, second we have very good terms of trade and external demand for our commodities is extremely high, third, we have unemployment rates at or below 5%.
Yes, Rudd/Gillard/Swan didn't have the guts to reduce government expenditure in their first budget and used the GFC as an excuse to ramp up their own spending and wastage.
More ironically and or hypocritically, they didn't dare to stop the tax cuts that Howard/Costello introduced and continued to the Rudd years. Although that may not necessarily have been a bad thing compared to their wastage, they nevertheless blame Howard/Costello for causing the so called structural budget deficits.
The fact is that Howard/Costello had budget surplus, repaid government debts and created future fund, as well as cut taxes.
What Rudd/Gillard/Swan has done? Deficits and large deficits, debts and increased debts. Wait, there are more, new taxes and more new and big taxes.
For them to blame their predecessors is a bit too rich in politics and political incompetence and spin at the extreme!
It is a shame of them. But they don’t have a sense of shame and they don’t and can’t feel it.
That is a government out of touch, and senseless!