Thursday, May 10, 2012

What I think of Wayne Swan's budget proposal

I think it is a farce. Everyone is so hung up about the budget; perhaps it is because we all want to see what the proposal has in store for us. But then THAT is the problem isn't it? When we are so carried away by "what's in it for me," we forget that the government has gotten away with enormous deficit for the last four years of Labor government (that is not to say John Howard did a fantastic job; he sold government assets to keep the budget balanced).

Last year alone the fiscal deficit was $44bil. Now Wayne Swan is trying to convinced everyone he is a good financial manager, based on his budget proposal to create a surplus of a puny $1.5bil. Mind you, that is just a proposal and nothing more. Come next year, people will forget what he promises now and they will be looking at another new budget proposal. Who will be paying for all the deficits?

Back to Wayne Swan and Julia Gillard's management of the economy. Last year alone, they managed to spend $44bil more than the amount they collected. Nobody, except the opposition party made any noise; for vested interest, of course. If Wayne Swan and Julia Gillard were to manage a public listed company, the company would have faced a riot from the shareholders. The shareholders would not be so keen to see what they propose to do next year. No, they would be asking how the duo have managed last year's profit and loss account. Gillard and Swan would have been given the sack rightaway.

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