Australia will be going to the polls this Saturday, 2 July. There are two major parties in Australia, the Labor Party and the Liberal/Nationals (Coalition) Party. One of the “funniest” things I have read so far is the Labor Party acknowledging they will run the country in the red the first few years BUT it will come good in the future. A family or company couldn’t operate this way but there again we aren’t talking about someone who is accountable for their budget; are we?
“A Labor government would leave the federal budget $16.4 billion worse off if it wins the July 2 election, but maintains it would match the Coalition and return to surplus by 2020-21.”
“In the near term, Labor would have a $39.5 billion deficit in 2016-17 compared to the $37.1 billion predicted by Treasury and the Department of Finance in the pre-election economic and fiscal outlook.
By 2019-20 the deficit will be $11.3 billion, compared to $5.9 billion under the coalition.
Labor will also use almost $3 billion from the Coalition’s superannuation changes, without committing to adopting the policy.
Mr Bowen said Labor would deliver $10.5 billion in savings over the next decade, bringing its total budget improvements to more than $130 billion.” http://thenewdaily.com.au/news/2016/06/26/labor-election-costings/?utm_source=Responsys&utm_medium=email&utm_campaign=20160627_TND
Oh, by the way, I have a bridge for sale in San Francisco.