Now this, from the PM's web-site is why we're going to spend more money while we are already carrying heaps and heaps of private debts.
"Key measures funded by today’s Nation Building and Jobs Plan include:
* Free ceiling insulation for around 2.7 million Australian homes
* Build or upgrade a building in every one of Australia’s 9,540 schools
* Build more than 20,000 new social and defence homes
* $950 one off cash payments to eligible families, single workers, students, drought effected farmers and others
* A temporary business investment tax break for small and general businesses buying eligible assets
* Significantly increase funding for local community infrastructure and local road projects."
Apart from the one-off cash payment - all $12 billion of it - I am not totally adverse to the remaining "key measures." However, for a bloke who in previous speeches and media statements declares that he is a fiscal conservative, you start to wonder where did he see the light on his road to Damascus and the need for positively indecent haste. Frankly, I agree with the position of the Senate here in refusing to rubber stamp the bills without due process. That $42 billion is OUR money and another $10 billion has already gone without much effect.
The man is starting to disappoint me. Lectures from the pulpit, reviews of anything and everything while at the same time declaring war on them, attempting to avoid using the words recession or depression so flings $$$ around hoping that will fix it (it won't Kev), in 11 months a turnaround of $96 billion from surplus to deficit.
The only thing which will fix it is the most pertinent part (at least to me) of an article quoted by eGilmore in "The 5 I's - the key to Australia's future" the-5-i-s-the-key-to-australia-s-future-3888.html
"The nurturing of intellect and the acquisition of skills are by far the most potent sources of productivity growth in the modern world,"
With that in mind, and that it is productivity growth which prevents or leads us out of recessions/depressions, Kev's plan just doesn't really cut it for me.