Wayne Swan could have done that

So I’ve been catching up on all the news since returning to Australia. Sex scandals, MYEFOs and what not. Since morning Peta Credlin managed to combine the (latest) sex scandal and MYEFO.

Broad’s career was probably unsalvageable, but his exit should have been managed so that it didn’t obliterate the good news of a hard-won surplus and an outstanding set of budget numbers.

Hmmmmmmmmm. No. There is no “hard-won surplus”. The government – as I have argued all along – will be balancing the budget at a higher level of GDP. The government grew out of deficit.

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13 Responses to Wayne Swan could have done that

  1. Confused Old Misfit

    The government grew out of deficit.

    What you mean is that the swine did not see a surplus coming!

  2. Confused Old Misfit

    Thanks solely to the God Emperor Donald J Trump (Blessed Be His Name) our economy grew along with that of the USA. No credit whatsoever should be given to the gangrenous stinking trolls in Canberra.

  3. Dr Faustus

    The government grew out of deficit.

    The Government also grew its spending in real terms.
    The attached graph shows spending flat at 25% GDP over the life of the Coalition governments. During that time the economy grew at +2% real each year.

    There appears to be no limit on what government thinks it can do for us better than we can ourselves.

  4. Tim Neilson

    To adapt an aphorism from the investment advisory community, commodity prices can go down as well as up.
    The Photios Party didn’t create this or even foresee it, and likewise with their Uniparty policy suite they can neither prevent a swift reversal nor predict whether one is in the offing.

  5. Squirrel

    In recent months, we’ve repeatedly been told that federal government spending is growing at the slowest rate in 50 years (or words to that effect) – difficult to reconcile that claim with the payments line in that graph.

    The “hard won surplus” has been achieved, in part, through income tax bracket creep and while that might seem clever to a politically desperate Government, it might also help to explain why they have lost so many Newspolls over recent years.

    The truth is that this Government has done very little for people on low and lower middle incomes (formerly known as the “Howard battlers”), preferring to focus their attention somewhat higher up the income scale. There’s lots of glib rationalisations as to why the latter approach is better in policy terms (as the army of Canberra econocrats is no doubt telling the Government, in an entirely altruistic spirit…..), but that doesn’t seem to be appeasing the voters who are polishing up their baseball bats in readiness for next May.

  6. H B Bear

    bracket creep = unlegislated tax increases

  7. Shy Ted

    Misread it first time. Thought you implied Wayne Swan could have been caught up in a sex scandal. That could never happen. Not with any woman anywhere.

  8. Dr Fred Lenin

    Shy Ted are you implying that swannie cant pull the birds ? He and the krudster were competing for the favours of the lying slapper, you remember her all the alp guys wanted to win her . Proves they were heteros however , unlike the turnbull branch of the party many of whom are suss in that area .

  9. Herodotus

    Nothing can beat Wayne’s “the four surpluses I announce tonight”.
    Quibbles aside, Credlin is a most welcome addition to the commentariat.

  10. Baldrick

    When the hard-won surplus and outstanding set of budget numbers are achieved through cutting government spending and not an increased tax take then I’ll get excited.

  11. Confused Old Misfit

    Never fear!
    The Government will also grow out of the surplus.

  12. wal1957

    Governments are very adept at spending other peoples money without any consequences.
    If they were honest they would admit that they achieved this surplus through no effort on their part.
    BUT, they won’t say that because that will reveal just how inept our government has been for the last 11 years.
    Incompetent, gutless idiots!

  13. Combine Dave

    I kind of feel that if Swany was still in the treasury big seat he’d still find a way to increase spending further, aka even with significant GDP growth a surplus would elude him.

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