In The News

$42 billion package from the Rudd government.

www.abc.net.au/news/stories/2009/02/04/2482275.htm

Is there anything in it for you ?

Malcolm Turnbull has said that the package will be rejected in the Senate. What do you make of that ?

I don't know if there's anything in the latest [federal] Labor government's economic stimulus package for me, personally; maybe there will be, maybe there won't be. Whatever I might personally gain from some kind of cash hand-out, I don't have anything that I need to spend it on. Aside from our home mortgage, we don't have any outstanding debt; there's nothing we just-gotta-have-right-now, either (apart from a holiday, maybe). So if we do get anything, we'll probably put the money into the bank as savings.

As far as the federal Opposition's promise to block the legislation in the Senate, we'll just have to wait and see. The Liberal/National parties have 37 senators, while there are 32 Labor senators, 5 Greens, 1 Family First senator (who nearly always votes with the Libs) and 1 Independent senator (who effectlively holds the balance of power). Therefore, everyone's attention will be focused this week on Senator Nick Xenophon, independent senator for South Australia.

Personally, I don't think Malcolm Turnbull (federal Opposition Leader) has made a strong enough case to block the Government's economic stimulus package. Basically, as Prime Minister Rudd has said, there are two choices: either the Government steps in to try to do something about the state of our economy by injecting funds into infrastructure projects, building works, and payments to those on the lowest income bracket or the Goverment stays out of things and allows the free-market economy to somehow sort out the mess itself. We've already seen the disastrous consequences of the "hands-off" approach advocated by Alan Greenspan and George dubYah. What makes you think that more of the same is a wise approach to the Australian economy?

I don't think Kevin Rudd believes he has all the answers or thinks that the Government can sort out the economy on its own but I believe that he's making a genuine effort ... as opposed to Malcolm Turnbull who's losing credibility every day as a man of any kind of vision.

George posted a message here yesterday which started a whole different discussion about the Australian political system. I tried to move his message (and the responses to it) but, in the process, I accidentally and unfortunately deleted his message. Sorry about that, George. :blush:

Fortunately - thank goodness I had a copy of George's original message as part of The Quoroom's RSS news feed that's delivered each day to my mobile phone - so I'm able to reproduce what he wrote, in answer to my earlier posting:

ConcerForGeorgeNut wrote:

Yeah, like you, Sozz, I don't know whether there's anything in this package for me (as a single person, no kids, no mortgage - I doubt it, but that's quite OK). As for Malcolm Turnbull - yep, it looks like more of the suff I think we've come to expect of our pollies in Australia - if something is an idea from the other side of the chamber, oppose it, no matter what.

George went on to compare the US system of executive government which doesn't appear to suffer from this party politics struggle which I've called Australian Politics and Politicians .

I've been looking for what the "opinion writers" are saying about the Government's economic stimulus package. I think you might find this editorial from The Canberra Times helpful.

If I'm to understand the newsfeed I got off the ninemsn website, is this next govt handout only to go workers with annual salaries of less than $100 000?

SweetNess wrote:

If I'm to understand the newsfeed I got off the ninemsn website, is this next govt handout only to go workers with annual salaries of less than $100 000?

I don't know the answer to that question. George asked a similar question, too. I don't know who, exactly, will benefit from the proposed Government cash hand-outs. Perhaps someone here can enlighten us?

There are several components to the Australian Government's bonus payment system. There's a tax bonus payment system, that relates to the tax paid/owing for the 2007-8 financial year and the details are available at
www.ato.gov.au/corporate/content.asp?doc=/content/00178930.htm

Essentially, if your taxable income is less than $80,000 you will receive $950; between $80,000-90,000 you will get $650; and if you earned between $90,000 and $100,000 you will receive $300. If you earned more than $100,000 you get nothing.

The details of the Centrelink payments are at here .

What did I say only a week ago about [South Australian independent] Senator Nick Xenophon? Yep, sure enough, when the Senate voted on the Government's legislation to inject $42bn into the Australian economy, Senator Xenophon was trying his hand at lion-taming by trying to get the Government to do a deal on water management for the Murray-Darling basin. You might ask what the Murray-Darlin basin has to do with spending money on primary schools, roads, or cash handouts to those who are on low-to-middle incomes or on social welfare payments ... and I haven't a clue.

I mean, it seems to me that everyone has their own idea of how they should spend taxpayer's money. It's not enough that the Government wants to spend $42bn to stimulate the economy (as opposed to the Opposition's plan to spend half that amount). Senator Xeonophon wants to Government to "fasttrack plans" to improve water management in the Murray-Darling and refused to support the Bill in spite of the Government's offer to bring forward plans to spend $410m over the next four years ($210m this financial year and $200m next year). Apparently $410m wasn't enough to get the good senator's vote.

I'm still waiting to see the transcript of the interview with Senator Xenophon on The 7.30 Report, but you can watch the video by going to www.abc.net.au/7.30/

Not that I had any particular need to get my hands on $950 from the Government (and I probably would have donated it to the Red Cross bushfire appeal, anyway), but these kinds of political stunts leave me wondering if this country's economy can ever be responsibly managed by the Government we elect to do that job if maverick politicians are able to extract demands for this or that personal agenda!

Stay tuned with this one. I don't think anyone's budging on their positions and we could well be facing a federal election as early as June this year to sort them out.

Just got this from the 'net. A deal has been reached between Labor and Senator Xenophon.

business.theage.com.au/business/cash-boo...-86ao.html?from=top5

I'm pleased to hear that the Government's raft of economic stimulus measures has finally gotten the nod although I'm disgusted by our politicians who demonstrated little willingness in brokering an honest deal. As Derryn Hinch would say, "Shame! Shame! Shame!" on those seedy backroom deals!