The Australian government is going to blow another $42 billion on buildings and jobs to try to ward off the effects of the global economic crisis. This move is described by the ‘Wall St Journal as an “electorally friendly strategy designed to shore up employment in the short term,” in other words it helps the government.
Taxpayers will fork out $3.7 billion to insulate homes for free, so those who have done it and paid for it themselves will be kicking themselves. Serves you right you dumb bastards, aren’t you smart enough to know that in the modern nanny state the government does that for you?
Interestingly the government will spend $6.6 billion to build 20,000 new ‘social’ housing dwellings, and fund maintenance to around 2500 vacant ‘social’ houses. Please St Kevin; Homes for the homeless ……. Is it just me or is there something odd in the idea that with 2,500 empty ones, we need to build another 20,000 of them?
Kev is assuring us that there is no guarantee that it will work, but if it doesn’t he will do more of this.
Meanwhile according to the SMH, the National Party has woken up to the fact that Barnaby Joyce is a member of their party and has been acting as an opposition and have decided to try it themselves and see how they get on.
The next generation will have to foot the bill for the Rudd government's spending spree, The Nationals say.
Nationals leader Warren Truss attacked Labor over its $42 billion stimulus package.
Along with the massive spending package, the government announced on Tuesday it expects the budget to sink into a $22.5 billion deficit in the 2008-09 financial year, a massive deterioration from the $5.4 billion surplus projected in November.
"It's a spending spree which will all have to be paid for by the next generation ... by our children and our grandchildren," Mr Truss told parliament.
"I can say one thing to you with absolute confidence: this deficit will last beyond this government."
Mr Truss said the package was the biggest spend now, pay later program that Australia had seen.
"Today's cash stimulus is tomorrow's cash drought," he said.
Malcolm Turnbull, the “opposition leader” has not yet decided whether actually opposing the government is a good idea at this point. To be fair, if he were to do so it has been pointed out that Kevin Rudd might criticize him for it.
Speaking in parliament less than three hours after the details were made public, Mr Turnbull said the coalition wasn't against economic stimulus but wanted to ensure taxpayer funds were used to the best effect.
"We are not opposed to a proactive and creative approach but we have to use the taxpayers' money wisely," he said.
"We must not overlook the enormity of what we are seeing today. We are seeing a budget that is going over the course of nine months from a $22 billion surplus to a $22 billion deficit.
"We are going to see an additional $111 billion to our national debt as a result of these measures."
Mal is of course not very bright, and is still trying to find a hole in Kevvys assertion that the current economic crisis is the result of 30 years or unrestricted, unregulated, uncontrolled, and anarchistic, laissez-faire free market capitalism and there is a real need for some good old hard core socialism. (Kev was referred to in the last election as a "fiscal conservative" by.... um, er.... Oh thats right, by Kevin Rudd.)