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the undertaker
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New Zealand
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Posted - 21 Jun 2012 :  15:31:01  Show Profile Send the undertaker a Private Message  Reply with Quote Copy this URL to Link to this Reply
How does a Government "make money"?
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Legendary Gerry
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Australia
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Posted - 21 Jun 2012 :  15:48:34  Show Profile Send Legendary Gerry a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by the undertaker

How does a Government "make money"?



http://www.noteprinting.com/
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the undertaker
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New Zealand
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Posted - 21 Jun 2012 :  15:57:36  Show Profile Send the undertaker a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Legendary Gerry

quote:
Originally posted by the undertaker

How does a Government "make money"?



http://www.noteprinting.com/



That's the easy way LG. But Albert says the government "makes money", so all I am asking is "how"?
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Legendary Gerry
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Australia
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Posted - 21 Jun 2012 :  20:15:49  Show Profile Send Legendary Gerry a Private Message  Reply with Quote Copy this URL to Link to this Reply
Senator Fisher has resigned now for the other MP.

...and yes I do note that she has resigned to try to beat her depression.
Good luck to her.

http://news.ninemsn.com.au/national/8487579/hokey-pokey-senator-quits-parliament



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Zac
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Australia
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Posted - 21 Jun 2012 :  21:10:55  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by the undertaker

That's the easy way LG. But Albert says the government "makes money", so all I am asking is "how"?
By bringing in more in tax revenue than it spends - but we know that. So, a government that spends more than it brings in runs out of money - or at the very least starts clocking up debt to other countries. That's why we need a prudent government at regular intervals to bring the government's bank account back into surplus - so the next government can go throwing it around again. Sometimes on worthwhile things, but often not. Then the prudent government comes back again, and spends less than it brings in, spending money on worthwhile things while still saving, etc.

It was ever thus (here in Australia, at least), and probably ever thus will be. I think Australia is ready for another prudent government again. I'm just not sure if there's one around right now. Lucky for us ,we've got these non-renewable resources to sell to get us through. I bet Greece, Spain, Ireland, Italy etc. wish they had the same easy option..

Edited by - Zac on 21 Jun 2012 21:13:45
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Madaz
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Australia
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Posted - 21 Jun 2012 :  21:58:05  Show Profile Send Madaz a Private Message  Reply with Quote Copy this URL to Link to this Reply

Well we apparently have a prudent government in office now.

They are projecting a budget surplus of $1.5 billion in 2012/13.





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Zac
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Australia
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Posted - 21 Jun 2012 :  22:39:53  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
Very prudent. That's $1.5 billion they can offset against the $208,000,000,000 they clocked up from the previous government's surplus - and that's in just four years. That brings the government's debt down to $206 .5 billion.

Edited by - Zac on 21 Jun 2012 22:44:39
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rabbits
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Australia
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Posted - 22 Jun 2012 :  08:29:44  Show Profile Send rabbits a Private Message  Reply with Quote Copy this URL to Link to this Reply
Even Stephens said yesterday that the surplus is based on bull**** because all they've done is some accounting trickery with the numbers - delayed payments on the books until the following year - they'll be hoping the world comes good and they don't have to declare that, once again, as the ALP seem to do, they have put us deep in the **** again.
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Madaz
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Posted - 22 Jun 2012 :  22:00:58  Show Profile Send Madaz a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Zac

Very prudent. That's $1.5 billion they can offset against the $208,000,000,000 they clocked up from the previous government's surplus - and that's in just four years. That brings the government's debt down to $206.5 billion.


Yes ok.

And now compare that $206.5 billion to the multi billions and trillions that other governments around the world have been clocking up on their credit cards.

I'm no fan of the current government. I mean they've stuffed up everything from the pink batts scheme to the asylum seeker problem. But let's them give a bit of credit maintaining a balanced budget and not sending us into economic oblivion like Greece, Spain etc.



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Legendary Gerry
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Australia
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Posted - 22 Jun 2012 :  22:05:59  Show Profile Send Legendary Gerry a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Madaz

quote:
Originally posted by Zac

Very prudent. That's $1.5 billion they can offset against the $208,000,000,000 they clocked up from the previous government's surplus - and that's in just four years. That brings the government's debt down to $206.5 billion.


Yes ok.

And now compare that $206.5 billion to the multi billions and trillions that other governments around the world have been clocking up on their credit cards.

I'm no fan of the current government. I mean they've stuffed up everything from the pink batts scheme to the asylum seeker problem. But let's them give a bit of credit maintaining a balanced budget and not sending us into economic oblivion like Greece, Spain etc.






Give 'em time.
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Zac
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Australia
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Posted - 23 Jun 2012 :  08:17:37  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Madaz

I'm no fan of the current government. I mean they've stuffed up everything from the pink batts scheme to the asylum seeker problem. But let's them give a bit of credit maintaining a balanced budget and not sending us into economic oblivion like Greece, Spain etc.
I'm no fan of the current government (and I don't see much hope or enlightenment coming from the other side either), but they haven't maintained a balanced budget - and the defence of saying that we're not doing as badly as some of the worst managed economies in the world doesn't do it for me either. We're certainly not going broke like Greece and Spain, but looking at what we've got going in our favour, neither should we be - nor should we be compared to them. Racing into the red at over $50,000,000,000 a year ($19.7 billion surplus November 2007 and $206.5 billion debt in June 2012) is not good economic management, and no apologist for continual deficit spending can convince me otherwise. BTW, that rate of debt is set to increase, despite the momentary blip projected in this year's budget.
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falcon_cobra
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Sweden
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Posted - 23 Jun 2012 :  08:48:28  Show Profile  Click to see falcon_cobra's MSN Messenger address Send falcon_cobra a Private Message  Reply with Quote Copy this URL to Link to this Reply
and how did the previous Government get that surplus?

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Zac
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Australia
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Posted - 23 Jun 2012 :  09:18:34  Show Profile Send Zac a Private Message  Reply with Quote Copy this URL to Link to this Reply
The Liberal and Labor supporters will have different takes on how the Howard government got it. Some will say they did it by selling things, by screwing the poor and disadvantaged, by introducing the GST, etc. Others will say that they got it by not spending what they didn't have, by not sending $900 cheques to anyone and everyone, including dead people, people permanently living overseas and people who don't exist, nor by throwing money at some of the worst thought out, half-arsed schemes this country has ever seen. However they did it, they managed to do it for eleven years while the current government is pretending to do it for just one. Prudent financial management has given Julia Gillard the chance to strut the world stage telling everyone what marvellous economic managers we are here in Australia. It just wasn't her government's economic management that gave her that opportunity.

Edited by - Zac on 23 Jun 2012 09:21:00
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falcon_cobra
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Posted - 23 Jun 2012 :  10:16:12  Show Profile  Click to see falcon_cobra's MSN Messenger address Send falcon_cobra a Private Message  Reply with Quote Copy this URL to Link to this Reply
i believe in about half of each Zac,
i dont think any government do things for the people, they are getting more and more like banks, its always the bottom line, if it means selling their own grandmother they would do it

_Mvolvo
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Madaz
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Australia
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Posted - 23 Jun 2012 :  17:36:18  Show Profile Send Madaz a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Zac

The Liberal and Labor supporters will have different takes on how the Howard government got it. Some will say they did it by selling things, by screwing the poor and disadvantaged, by introducing the GST, etc. Others will say that they got it by not spending what they didn't have, by not sending $900 cheques to anyone and everyone, including dead people, people permanently living overseas and people who don't exist, nor by throwing money at some of the worst thought out, half-arsed schemes this country has ever seen. However they did it, they managed to do it for eleven years while the current government is pretending to do it for just one. Prudent financial management has given Julia Gillard the chance to strut the world stage telling everyone what marvellous economic managers we are here in Australia. It just wasn't her government's economic management that gave her that opportunity.


I guess it didn't hurt that the previous government was in office during a boom economic period.

In contrast, the current government has to contend with one of the worst global recessions in history.

It would be interesting to see what would have happened if Howard was still PM today. He would have done things differently for sure but I don't think the budget bottom line would have been much better than it is now, if at all.



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