Kevin Rudd's plan to lump every Australian with $9500 in debt

Its not often politicians make unpopular announcements, but we will vote against Kevin Rudds $42 billion stimulus package.

We believe its too big at this time.

Its going to leave us with $70 billion of debt and hes seeking permission to borrow $200 billion. Now that debt is going to have to be paid off by our children in high taxes in the future.

Its important that we respond to the economic challenges calmly, rationally and effectively.

Its important our response creates jobs and that is why weve proposed an alternative which would cost half as much, create half as much debt, create jobs, and bring forward tax cuts instead of having a cash splash. The cash splash in December didnt create any jobs why would a cash splash in March do any better?

We want results. We need money to be spent wisely. We want jobs to be created and we do not want to leave our children with hundreds of billions of dollars of debt into the future.

We know this is unpopular. We know that many people will be unhappy. But we are standing up for good government, sound financial management and above all our childrens future.

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News & Politics

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[ExquisiteDoom]

If anything, stimulus packages stimulates poverty!

[wdgann111]

There is no difference between Kevin Rudd and a bank robber. He has taken money from the hard working Australians that make this country competitive and put in the hands of spoilt Australian bludgers who think they deserve a certain lifestyle they never worked for

[MRMILO57]

DON'T GO GREEN IT'S DANGEROUS FOR AUSTRALIA AND FOR YOUR STANDARD OF LIVING.

If you want to do something for the world, plant a tree and stop breeding for the next 5 yrs.

[kenneththorpe]

Yeah Turbull and the Libs have a lot of credabillity on the economy. Opposition deputy Leader and Treasury spokesperson Julia Bishop had to stand down after bungle afer bungle. Yet they let Costello sit on the back bench. The whole "hold up the Economic package thing has backfired". They are down even further in the polls. And no wonder while Costello sits on the back bench while Julia Bishop trips over her Tounge. The reult was Nick Xenaphon holding the country to randsom in the Senate. No Good

[kenneththorpe]

Thanks for the concern. Good luck with the chat.

[rhino015]

I did actually find an article that mentioned the 2.9% figure u were saying but in relation to deficit spending as a percentage of gnp "Treasury estimates Australia's budget deficit will be 2.9 percent of gross national product in 2009-10". That's the deficit portion of the 4 billion(plus whatever other causes for deficit), the rest comes from the remaining surplus. The whole thing is the 4%. I do think it'd be hard to balance but no point giving up. Sorry about your friends Ken. All the best

[kenneththorpe]

I guess thats a question you will have to ask Treasury and the IMF. They are more capable of those calculations than you or i. I will take thier word for it, No Disrespect. I would say given the Floods up North and the Fires down south we may have struggled to balance the books anyway in this Economic climate. I won't reply to more comment here a while. I grew up in the worst of the Fire area and have lost friends. So excuse me if i do not reply a while. I like your effort.

[rhino015]

hmm, try to think about rationale rather than villanisation. why do you think he'd want that? It's too easy to just dismiss someone as evil so you don't have to analyse the pros and cons of each issue. even if he was evil and wanted to exploit us...how would he benefit from that? poorer ppl poorer nation less tax revenue, more crime, lower standard of life, more dole bludgers taking his tax dollars? how would he benefit from that?

[rhino015]

my figures are simple. trillion dollar economy. 42 billion dollars. what percentage is that? look up gdp of australia and see if u can find somehow that that makes 2.9%. Especially if (as nobody does) you combined the other 10.4 from teh previous christmas stimulus. I'm not calling you a liar but clearly the 2.9% must be using a slightly different definition of something. how is it calculated?

[rhino015]

it wouldn't be investing in teh short-term to medium term future for a school no. how would it? Wasn't someone else on here just arguing that tax cuts would be too slow compared to giving cash? what about a library? thats not even relevant to this crisis