The week in review: momentous change read more
Election blog: Spin and reality read more
Blog: Where to for Pakistan? read more
Super Bowl blog: Patriots v Giants read more
Road to Beijing: Is that an elephant or a Tibetan antelope in the room? read more
How well do you think Australia will do in Olympics?
"Sorry for the cynicism, but the Olympics will be full of the usual tribal behaviour where all tha..."
Do you support the government's changes to immigration detention?
"Long overdue, and far more compassionate. The Howard era and it's human rights violations against..."
Is China environmentally fit to host the Olympics?
"Am I alone in being sick of this China-bashing in the lead up to the Olympics? I am an Austral..."
When you are out and about, watch coverage of the Olympic Games LIVE on your Telstra Next GTM mobile Read more.
MEDICARE SHAKE-UP IN BUDGET
Saturday, 10 May, 2008RELATED CONTENT
WHAT DO YOU THINK?
Are you nervous in the lead up to the Rudd Government's first budget? Are you nervous in the lead up to the Rudd Government's first budget?
COMMENTS
First [1][2] LastI'm looking forward to the restoration of socialism in Australia, the application of paternalistic welfare schemes (because people are too stupid to spend their own money, right?) and a diverse array of distortionary levies and taxes that will push us further into inflation, potentially stagflation if we are lucky, given the return to a ridiculously regulated labour market.
I am excited not nervous. I am hopeful that the upcoming budget will right the wrongs of Howard and his greed machine, and focus on an ideology that will mean greater financial equality for all Australians.
I'm not holding my breath on this one. I think that Swan blag's he's way through things and i think he'll blag he's way through this budget as well!
What EXACTLY is everyone so scared of about the budget? Really, most people here seem to be expressing concern over thin air.
The present economic problems are a global phenomena, which grew out of the excesses of the late 1990s. I doubt whether Prime Minister Howard could have stemmed the out of control borrowing by Australian households, or the inflation related to property speculation, or the reduced agricultural output caused by drought. Even with all these problems, Australia’s economy boomed and Australians became a tribe of spendaholics and complainers. I can see the outcome from the 1st Rudd Government Budget. Basically complaints everywhere from a population unable to tighten their belts. The concept of inflation as a negative factor, and the balancing act of high interest rates really comes from the Margaret Thatcher years. Treasurer Howard in the 1980s had to implement high interest rates in order to comply with the “NEW WORLD ORDER” where 18% or even 22% was the norm, world-wide, and under Prime Minister Hawk the same policy was maintained well into the late 1990s. The economic boom under Prime Minister Howard was not created by the Liberal Party, but after asking everyone not to get sucked in, and nobody took notice, the Liberals just decided to sit back and take the credit. Now Australia has to deal with a global economy which is sliding backward. Not everything is bad however, especially for Australia, simply because Australia is lying in such a strategic location, the country can be partly saved by the booming commodities market in Asia; which was not a product of Howard's genus, but once more, as the saying goes, it is great to be in the right job at the right time, in the right location. It is good that the Rudd Government is more prudent in the next budget, but I hope he understands that putting on the breaks too swiftly, will do nothing but create resentment and swing the voters into the hands of the Liberals. My bet is that as an act of overprotection, and as a means of showing how diligent and efficient NEW LABOUR has become, the steak is going to be overcooked, and unfortunately inedible. The truth is that the basic Australian has become so self centred, so addicted to spending, very little thought is going to be placed into what is good for the country. Think SMART Australia. China and India may be willing to pay for expensive Australian commodities for a few more years. But in the end, they will develop their own links with South American and African suppliers, and over night, Australia will be dumped. When you look at history, Indians and Chinese are famous for living together and saving every cent, whereas, the average Australian is famous for living alone and spending everything.
Seems like the radical right wing have possessed this column. It is time that the pork-style vote winning budgets of Costello and Howard stop by Labor's correction. It is good that this happens now otherwise inflation will continue to rise. Most Australians are in agreement with this view according to the polls and so are a number of highly respected Australian economists. At this time good economic management requires that the government exercise fiscal restraint. Mortgage holders don't want further interest rate rises spurred on by inflation through handouts. Productivity? Stop the ridiculous American-style work place litigation that is going on in the courts by greedy lawyers and opportunistic clients. This is causing excessive focus on OH
no,after the last years of smoke and mirrors i think i'm just about immune to BS
And of course mike talbot would say that while the unions bleed us dry with lousy performace in the work place !
Why wouldnt a bunch of idiots who make policies on lies and scams like the fanatical greens which they know full well to be lies be a worry ,i sure am and so should everybody ,they spin so much rubbish and lies they are getting dizzy themseves !
This bunch of hypocrits could not run a lunch bar ,they lie through their teeth ,take the so called transparecy they so proudly spewed out during the election ,if thats so why did they veto the bbc from getting the awa document thart woyuld prove they conned everybody?and how is it that noy even 1 person has rudhed in to get off them? lies and more lies ,who are the 22,000 people who voted twice in the last election ?labor? you cant do that by mistake and why has it been hushed up?