Swan’s impressive budget

The Fairfax media are extracting Wayne Swan’s autobiography. This morning he talks about his relationship with Kevin Rudd – okay, whatever. But this bit jumped out at me.

It was Friday, May 14, 2010, three days after I had delivered the budget, and we were about to embark on the traditional budget roadshow. …

Over the previous couple of weeks, media reports had suggested his leadership was beginning to wobble. Conversely, I had received some praise because, on the whole, the budget had been well received for the impressive fiscal consolidation it set out.

So just to remind ourselves as to how that “impressive fiscal consolidation” worked out I graphed the budget balance from the 2010 Budget Papers and compared them to the actual budget balances reported in the latest Budget Papers.

Swan - impressive

Slow hand clap – bravo. Well done that man.

Cats will also recall that 2010 was the Stimulusgate budget.

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79 Responses to Swan’s impressive budget

  1. Infidel Tiger

    This is the political equivalent of the Warwick Todd Diaries.

  2. kae

    I read this and thought, “I’m tired of hearing how inept Swan was/is. I’m tired of finding out how puffed up Swan is.”

    Then I thought about it for a few seconds.

    Forever is not often enough to remind Swan what an incompetent he was, and quite possibly still is.

  3. motherhubbard'sdog

    Swan is the perfect man for Jacqui Lambie. Plenty of money – tick. Big package – tick. Better if he doesn’t say anything – tick.

  4. Bruce of Newcastle

    He promised over 500 times to bring the budget back into surplus, resulting in an actual deficit of $50 billion, the largest ever.

    That is some record for mendacity.

  5. Big_Nambas

    Forever is not often enough to remind Swan what an incompetent he was, and quite possibly still is.

    Waste of time, Swan lives in another universe, doesn’t get it, never did get it, never will get it.
    People bashing the LNP sure have short memories, Gillard, Swan, Rudd, Conroy, that Wong chap the list of incompetents just goes on and on.

  6. Megan

    I have the Swandive to thank for finding The Cat. It was early in his treasureship and he made some ridiculous statement about the economy in an ALPBC interview that I thought sounded dodgy. I only did one year of economics at Latrobe back in the 70s and hated it so I was not particularly good at it. The Cat appeared while I was researching the topic and it was then I realised I actually knew more than Swandive on economics and how much trouble the country was in.

  7. Rabz

    Megan, not having a go, but there are small furry creatures wandering aimlessly around the outback who have more inkling of how much trouble the country is in than the Goose.

  8. Ant

    Is it even possible that this impenetrably stupid man was ever the nation’s treasurer?

    Surely not. Yes. It was a silly nightmare.

  9. Empire

    Wayne Swan, The Good Fight.
    Review by Empire.

    Swan’s mendacious missive masquarading as biography, is further proof that the political class consists predominately of pathological liars. That few (if any) journos will publish this truth, demonstrates the MSM is populated with like odious beings.

    Narcissist, liar, worst treasurer ever. For serious scholars of sociopathy, The Good Fight is a useful case study. For everyone else, spend your hard earned on black market vice instead.

  10. Tel

    He promised over 500 times to bring the budget back into surplus, resulting in an actual deficit of $50 billion, the largest ever.

    It’s hard to fully conceptualise how big that is. Consider the Sydney Opera House total cost of $102 million (from Wikipedia) then multiply that cost by 10 to allow for inflation and get to $1 billion in today’s dollars. This includes all the famous cost overruns etc.

    The ALP were going into debt at a rate of about one Sydney Opera House per week. Think about that.

  11. Tel

    Is it even possible that this impenetrably stupid man was ever the nation’s treasurer?

    The treasury was run by the pubic servants while Swan, the nominal head, twiddled thumbs, nodded now and then, and gave speeches abusing Gina Rinehart and Clive Palmer for the crime of being successful.

  12. motherhubbard'sdog

    The treasury was run by the pubic servants

    Nice typo, Tel.

  13. sabrina

    What kind of people buy his book or for that matter any politician’s book?

  14. candy

    It’s just amazing he can write a book about himself without ever having delivered one surplus whilst treasurer for six years, but promising so many times and in the midst of a mining boom.

    Somewhere you’d think there’d be a sense of reticence about himself, a sense of not having achieved what he was supposed to.

  15. Ant

    We need the constant reminder that we had Wayne – good and proper – to remind us just fab Joe is.

  16. Tel

    Nice typo, Tel.

    Honestly accidental, blame the autocorrect.

  17. MartinG

    A peek into the fantasy world of Wayne Swan.


    Wayne Swan says ‘oligarchs’ destroyed Labor

    The corporate and mining sectors led a a campaign to rid Australia of the Labor government from the moment it was elected in 2007 because they were angry at the repeal of Work Choices, former federal treasurer Wayne Swan contends

    Vested interests and “oligarchs”, led by the miners and the Business Council of Australia, and aided by “disgracefully biased” News Corp Australia newspapers, worked to destroy Labor in power, Mr Swan argues in his new book, The Good Fight, which is published next week.

    Not pay walled

  18. Johno

    According to one review of Swandive’s tripe that I read, he blamed the Russian styled oligarch that control Australia’s mining sector, aided and abetted by a deceitful campaign from News Ltd media for the failure of the mining tax.

    He is that stupid that he apparently believes this to be true.

    This is the calibre of the man that Labor thought was good enough to be Treasurer of Australia. From Keating to Swan. How the Liars Party has fallen and taken Australia along with it.

    Unfit to govern.

  19. Louis Hissink

    Otherwise known as “swanning-around”.

    Ahem. Cough, Cough.

  20. MartinG

    Tel
    #1419122, posted on August 16, 2014 at 11:18 am

    Nice typo, Tel.

    Honestly accidental, blame the autocorrect.

    It may have been subliminal, after all The treasury is run by a bunch of cnuts.

  21. Tel

    Unfit to govern.

    As I’ve said elsewhere, you have the choice between competent bastards and incompetent bastards. The only honest man amongst them is Peter Garrett, “once we get in, we’ll just change it all”.

  22. pete m

    JC needs to tweet this graph to him and tell him to STFU. Burst this prick’s bubble.

  23. MartinG

    Ant
    #1419113, posted on August 16, 2014 at 11:12 am

    We need the constant reminder that we had Wayne – good and proper – to remind us just how fab Joe is.

    Sometimes a sarc tag is called for, lest you get flayed with extreme prejudice.

  24. MartinG

    Tel
    #1419163, posted on August 16, 2014 at 11:44 am

    As I’ve said elsewhere, you have the choice between competent incompetent bastards and incompetent bastards. The only honest man amongst them is Peter Garrett, “once we get in, we’ll just change it all”.

    Fixed that for you Tel. 8)

  25. Robbo

    In Wayne’s weird world he was a superhero and a fiscal giant. To the rest of us Wayne was a fiscal pygmy and a nitwit who talked a lot of bullshit with promises that were never going to be met because he did not have a clue. The only one in that Gang of Four who knew what was up and what was down was Lindsay Tanner and he showed what he thought of the other three by resigning. Swan is now trying to rewrite history by telling more lies than he told than when he was Treasurer. What a pathetic lot they were.

  26. MartinG

    Shit, limited Smileys,

    8-) :cool: ;-) :wink: :-| :neutral: :-? :???: :-D :grin:

    We don’t have a budget crisis but we do have a Smiley deficit. :-)

  27. Norma

    I wonder if the publisher has given the Australian a copy for review purposes? Standard procedure, but Swan may have vetoed it.

  28. MartinG

    I wonder what went wrong on the formatting, try again.

    As I’ve said elsewhere, you have the choice between competent incompetent bastards and incompetent bastards. The only honest man amongst them is Peter Garrett, “once we get in, we’ll just change it all”.

    Fixed that for you Tel. :cool:

  29. MartinG

    Norma
    #1419181, posted on August 16, 2014 at 12:22 pm

    I wonder if the publisher has given the Australian a copy for review purposes? Standard procedure, but Swan may have vetoed it.

    If so, the dick head doesn’t even know how to sell a book. Anyway The Australian will get a free read before it’s released ten minutes after someone has read the pre-release and thrown it on the coffee table.

  30. Shy Ted

    Is it true that Swanny’ book is written in crayon?

  31. Andrew

    To be fair to the Goose, having set a budget there is SOME obligation on the other Ministers (notably Finance) to ensure that the departments meet it. And if the Goose was given his job despite being entirely incapable of performing it, what would you say about that Wong chap? What qualifications did he have to be Finance minister?

  32. Andrew

    Also note that the graph would have to be truncated. The official narrative is that the ALP grubiment was cruising along to big surplii until Hockey666 came along and totally fucked the budget by getting us into $400bn of debt.

  33. Andrew

    rog
    #45589, posted on May 13, 2010 at 6:52 pm
    Employment is up – higher than all the pundits predicted.

    What was the question again?

    Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

  34. MartinG

    No need to buy the book, just read a few of the quotes from the AFR and you get the full scope of his delusions.

    He accepts the impact the leadership wars had on the government, ­saying they acted in parallel with the campaign waged against Labor by ­business and News Corp, which owns The Australian and Daily Telegraph.

    and

    “Add to this the vulnerability of being in minority government, the ruthless negativity of the opposition, and a disgracefully biased News Ltd, and it’s easy to see how the whole political debate became increasingly ugly and vicious.

    The idiot decides to make company tax cuts by introducing more company tax by what he calls axing business tax concessions.

    He says the 2012 budget decision to scrap a planned company tax cut that was supposed to be funded by the ­mining tax was driven by the BCA’s “capitulation” to the mining lobby over the original resources super profits tax. The government then formed the business tax working group which was charged with funding a company tax cut with savings made by axing other business tax concessions.

    He now gets riled up because his socialist mind can’t grasp the concept that successfully businesses are not an opportunity for governments to plunder their profits.

    “What really riled me, though, was their claim that they should really only have to pay the company tax rate.

    Read this and weep. The miners are paying company tax but Swan sees this as ‘handing them our resources for free’.

    “Given that corporate tax applies to every company, by saying this the miners were effectively arguing we should hand them our resources for free.”

    I’m not going to post any more his drivel here from the AFR, The piece is written by Phillip Coorey without any comment. A must read for all Cats if you want to see into the mind of a fucking madman.

    here

  35. MartinG

    Andrew
    #1419213, posted on August 16, 2014 at 1:00 pm

    rog
    #45589, posted on May 13, 2010 at 6:52 pm

    Employment is up – higher than all the pundits predicted.

    What was the question again?

    Hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha

    Linked for you Andrew

  36. rickw

    Looks more like a duck than a swan.

  37. jupes

    Consider the last three treasurers:

    Swan – A lazy $50 bil deficit after promising a surplus 500 times. He loved spending. Was much better at class warfare so was the perfect treasurer for TLS.

    Bowen – Wasn’t in the job long enough to stuff up as utterly as the Swan, however while the Goose was stuffing up the economy, Bowen was in charge of stopping the boats. Say no more.

    Hockey – His answer to a budget emergency is to increase spending. Trys to be loved so is universally disliked.

    Reigning in spending is the key to being a good treasurer. Surely the likes of Costello aren’t that rare. Surely.

  38. stackja

    Meanwhile waiting for next ALP government:

    Chris Bowen MP Shadow Treasurer of Australia
    Bowen was educated at Smithfield Public School, St Johns Park High School and the University of Sydney, where he graduated with a Bachelor of Economics.
    Minister for Immigration and Citizenship In office 14 September 2010 – 4 February 2013
    Chris Bowen resigned his ministerial portfolios on 22 March 2013 after he supported an unsuccessful attempt to reinstall Kevin Rudd as Prime Minister.

  39. Dr. Sir Fred Lenin

    Goose Flight,hat a great name for a “book”by this Muppet it rings true,he IS a Goose ,and the “book”is a flight of fancy. A Psychiatric course in Living Reality should be compulsory for All politicians ,even those who retired.

  40. tomix

    There’s a conspiracy afoot- according to Swan.

    Australia’s former Labor treasurer Wayne Swan outlines the growing oligarchy in his newest book. via The Guardian: – See more at: http://disinfo.com/2014/08/good-fight-warns-rise-business-oligarchs/#sthash.YLEu5ppr.dpuf

  41. Elizabeth (Lizzie) B.

    Bit of a non-starter, wasn’t he? That is such a crash and burn graph.

  42. Bob

    Too bad he did not run his family’s financial affairs the way he ran the nation’s. Had he done so, they would now be on the street cadging money. There is no justice.

  43. .

    Bowen

    This bloke would be flat out counting to ten on both hands.

    He shouldn’t even be in Parliament, really.

  44. I am the Walrus, Koo Koo K'choo

    Tel – your word-picture re Sydney opera houses is marvellous, v. impressive. Thankyou.

  45. Leigh Lowe

    Have Bruce Springsteen’s lawyers given Swannies book the once over for plagiarism?

  46. Motelier

    From the small business side of things.

    The drop on the graph that shows what really happened is the reason that the Liars Party should never get back into the Treasury again.

    I am in small business and I will tell you that the loss of business confidence is far greater in small business world than big bisiness.

    TLS and Wayne Goosesteen should be charged with treason and taken to court.

  47. manalive

    Swan thinks Rudd (and his good self of course) saved Australia from the effects of the GFC when they only postponed them.

  48. calli

    TLS and Wayne Goosesteen should be charged with treason and taken to court.

    You pull the tumbril, Mote…I’ll operate the Gillette.

    The fact that our businesses are still…viable…represents a close shave. I’d like those buggers to understand what that feels like.

  49. Marg

    Went to Wikipedia to read a bit of background on Mr Swan and read this interesting little piece of information:

    In 1996, Swan donated $500–$1400 (amount disputed) to the Australian Democrats campaign manager in his seat of Lilley.[7] At the time speculation surrounded the nature of the donation.[8][9] The matter was referred to the Australian Federal Police, who chose to take no further action.[10][11]

    Wonder if mention is made of it in his book? Writing your own history does have its advantages.

  50. custard

    Mote

    My small business ruined by lack of confidence from Labor and their policies.

    I could chart the down turn in vehicle sales with the dysfunction of the former govt. when the 50% instant offset tax claim (on new cars) (around 2008/9) further impacted on the second hand market. when the RSPT was announced by Rudd WA punters balked. When Gillard took over from the milky bar kid sales took another turn south.

    Carbon tax announcement more puss! Then the Milky bar kid gets the reins again he fucks up the FBT rules and f- over the entire industry again!

    What a joke!

  51. sdfc

    Hey Custard, are you the guy that contacts Eoin Cameron with his rain gauge results?

  52. Andrew

    Then the Milky bar kid gets the reins again he fucks up the FBT rules and f- over the entire industry again!

    YTF is there not more made of that? ALP announces an FBT hike a month before election, knowing the timetable for board decisions in multinationals. A month after the election, (after confirming that both the FBT hike and the energy tax remain part of their platform) the remaining car industry closes and they scream “Abbbbbbbotttttttttttttttttt6666666666666666666!”

  53. BilB

    Where is the rest of the graph, Sinclair? The overlay of what Abbott promised, and what Abbott delivered. I’m quite looking forward, unusually, to my next power bill.

    That is going to be an interesting comparison. To date I have not seen a single price decrease since the carbon price removal. McDonalds, a big electricity consumer, put their prices up. So much for that “great big tax” destroying Australian industry. So far Abbott achievements equal the scheduled closure of an entire industry, automotive, and a rising unemployment level.

  54. Bruce of Newcastle

    So far Abbott achievements equal the scheduled closure of an entire industry, automotive, and a rising unemployment level.

    That would be Gillard and Rudd, who put the FWA idiocity in place. When Toyota and their workers wanted to negotiate on their enterprise agreement they weren’t allowed to by Judge Mordy and, apparently, the FWA legislation. By the time Mordy’s decision was successfully appealed it was too late, the announcement had been made.

    Same goes for Ford and Holden, who had similar stupid labour force restrictions plus a carbon tax to boot.

    The problem with Labor and the unions in this country is they seem not to care that their workers get put out of work because of the predatory behaviour of the union, which kills the companies that employ the workers. Any herdsman knows better than to treat their flock so badly the sheep die.

  55. BilB

    I can’t argue with that, I really don’t know enough about those issues. I see life from a self employed entrepreneurial perspective, even though I do employ. I am not a fan of redundcy payouts, and am also not a Wayne Swan or Rudd enthusiast. But then Hockey is a know nothing idiot too and Abbott is a compulsive liar who only has a job because he suits Murdoch’s purposes and Maurice Newman as chairman of the ABC gave Abbbott 2 years of an hour a day to brain wash retirees with his endless “toxic tax” chant. We just don’t seem to get a break with Australian politicians. Non of them have the foggiest clue as to how to promote and support and retain business.

  56. Dan

    Nice murdoch bashing, fuck stick

  57. The Grey Ghost who walks

    I guess when Swanny left running that teachers union, to enter politics; there was a deficit in chooks , as he never had enough money to buy the chook prize each time he held the chook raffle!

  58. If you’re an entrepreneur, BilB, then I’m a simian. (Well maybe a looong way back.)
    You sound like a Leftie trying on the ‘a pox on both their houses’ schtick.

  59. Mike of NQ

    Just a very minor point. Your graph is wrong. Swan was much much (x 1000) worse. For 2013/14 the deficit was $50,000,000,000 and NOT the $50,000,000 that you indicate.

    [Thanks, Fixed. Sinc]

  60. sabrina

    We just don’t seem to get a break with Australian politicians.

    Hear Hear. It is getting worse if you read about the young Lib-Labs.

  61. john constantine

    the whole point of the labor culture shutting down australias manufacturing industry, was to replace it with a ‘welfare industry’, funded by money borrowed from overseas.

    demographic masses recruited into the welfare industry, whether from the ranks of the previously employed, or imported from overseas provide both ‘vote people’ for the left, and good jobs and profits for those ‘servicing’ the welfare industry. [rudd family business grasped a 200 million dollar fortune in a couple decades from crony socialism through the welfare industry. better than mining for the workshy.]

  62. John, that one hasn’t been properly investigated by Forensic Accountants. It needs to be. It just doesn’t pass the sniff test.
    But then, neither does most of what the Left does.

  63. Linden

    exactly, and how does a dickhead like him get away with just point blank lying to the people for so long? I suppose it is in Labor’s DNA the double helix what ever, the other part that is of course indelible union corruption.

  64. Linden

    thats reminds of previous comments re Swan; ones like he would go bust running a hot pie cart at the footy.

  65. Linden

    Yes and apparently at the end of FWA hearings the idiots from the union/s actually gave the Toyota people the one figured salute! That little gesture probably did not harm to the future jobs prospects than all economics of the situation. Funny how all these unions officials like to live the high life at the exspense of the obedient union fee paying factory worker.

  66. Linden

    Yes and apparently at the end of FWA hearings the idiots from the union/s actually gave the Toyota people the one figured salute! That little gesture probably did harm to the future jobs prospects than all economics of the situation. Funny how all these unions officials like to live the high life at the exspense of the obedient union fee paying factory worker. Correction re previous entry.

  67. will

    Not forgetting that Swan is still in Parliament, and will be Treasurer in the Shorten ALP Federal government in 2016.

  68. will

    Went to Wikipedia to read a bit of background on Mr Swan and read this interesting little piece of information:

    In 1996, Swan donated $500–$1400 (amount disputed) to the Australian Democrats campaign manager in his seat of Lilley.[7] At the time speculation surrounded the nature of the donation.[8][9] The matter was referred to the Australian Federal Police, who chose to take no further action.[10][11]

    Wonder if mention is made of it in his book? Writing your own history does have its advantages.

    was that part of a preference deal with the Australian Democrats?

    Wayne was also caught up in the Electoral fraud scam that saw some ALP identities go to prison. Our Wayne was investigated, but through innocence or lack of evidence, was never charged.

    Maybe he isn’t that dumb.

  69. BilB

    Well Winston that then makes you a monkey’s uncle. Would you like nuts with that?

  70. Hello Sinclair,
    You appreciate that you are boosting the sales of his pathetic book: you purchased the book basis your killer – tomato fascination – which can be fun.

    When it gets remaindered I do not think the 20c sales will count?
    GS

  71. Dave Wane

    I often wonder what kind of productive job Wayne Swan could do. No, I do not mean the jobs he has had: a union official/parasite and a taxpayer-funded-leech-like-Labor-creature.

    I mean like: Starting a business. Would Swan think? No way, I have no guts, I have no sense of adventure, and besides…..I could lose MY OWN MONEY.

    I know: I will hang around in my safe Labor seat and live high-on-the-hog courtesy of the Australian taxpayer, and if the Australian people are dumb enough for vote for Rudd in 2007, I will try to be his mate from Nambour and become the Treasurer of Australia, and do great things with taxpayer’s funds and funds borrowed on their behalf.

    And so it came to pass: A bludger from Brisbane who had never created a dollar of value – a dollar of wealth through his own endeavour or enterprise became the Treasurer of Australia. A man who could not run a pie-cart at the football and turn a profit, in charge of hundreds of billions of taxpayer’s funds?

    Of course, as anyone with even the most basic mathematical/financial/economic skills would know, this horrible up-start has been responsible (along with his Labor socialist comrades) for destroying all the economic and fiscal gains made during the Howard/Costello years.

    And now: Swan writes a book telling us all what a wonderful person he is – what a marvelous Treasurer he was.

    And despite the obvious financial quagmire Swan and his fellow Labor Socialist Fools have created, the current Labor Socialist Comrades, led by Shorten and supported by Plibersek, Bowen, Burke and other Socialist wreckers, continue to tell us that all is well – that socialism is just fine.

    But as Margaret Thatcher famously, and correctly said: “Socialism is fine, until you run out of other people’s money”.

    How many Labor people have ever had any money they could truly call their own?

    People who are handed out funds as if from a money-tree : whether Aborigines, welfare recipients, many public sector employees, almost all union officials or any other similar source will never understand the true value of money or the nexus between wealth creation and productivity, and how limited funds derived can best be spent for the better greater good of the nation.

    .

  72. JC

    I often wonder what kind of productive job Wayne Swan could do. No, I do not mean the jobs he has had: a union official/parasite and a taxpayer-funded-leech-like-Labor-creature.

    I think he would have made a decent bus driver if he was shown the the route a few times.

  73. Tintarella di Luna

    #1420727, posted on August 17, 2014 at 11:15 pm — Ah yes indeed – Wayne Swan is the Lion, the Tin Man and the Straw Man of Oz all rolled into one – that’s why the made him Treasurer

  74. Tel

    I think he would have made a decent bus driver if he was shown the the route a few times.

    Bus drivers are required to count change accurately and make their till balance at the end if a shift.

  75. Tintarella di Luna

    Bus drivers are required to count change accurately and make their till balance at the end if a shift.

    Yes brings to mind Solo Petrol and Bourke’s store – couldn’t count the change and balance the till

  76. WhaleHunt Fun

    What about the people who scrape the remnants of meat and fat off the hides in a tannery?
    And do the still use dog droppings for the tanning like they did in the 1800′s?
    The “pure collector” job as it was called was one that Goose could do. He recognised Rudd and worked with him. Same thing really.

  77. Andrew

    Bus drivers are required to count change accurately and make their till balance at the end if a shift.

    No we have Opal now – only took 21 years. He wold just have to drive the bus and turn a blind eye when roaming gangs come on to scream at Jooooooish kids. No counting or money handling needed.

  78. Wayne Swan, a decent man clearly out of his depth who believes his own PR and became a legend in his own mind!

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