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The Forum > Article Comments > Labor in deficit on surplus > Comments

Labor in deficit on surplus : Comments

By Graham Young, published 8/12/2011

Why has Wayne Swan gone to such lengths to promise a budget surplus for next year?

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Answer is Tony and the 24hr news cycle will ensure that labour will do whatever it can it get a surplus.

Economics has nothing to do with it and we all know it. A just as interesting question is why do the Liberals think a surplus is required?

"Thus socialism, in its very nature, is a claim for the socialisation of costs and privatisation of benefits"

I'm sure I have a bex here somewhere Peter.
Posted by Kenny, Thursday, 8 December 2011 12:12:15 PM
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Nicely cut through Kenny.

Last time Labor had a surplus was when Keating produced one that assisted Australia into the recession we had to have.

Costello played a part in dumbing down the economic debate with Beasleys black hole making a surplus the be all and end all. Yet he didn't mind a deficit to assist Australia through the 2001slump.

Swan producing a surplus for the sake of it is allowing Costellos' dumbing down to rule his policy.

Typical socialists trying to out stupid the tories.
Posted by Neutral, Thursday, 8 December 2011 12:51:23 PM
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A good article. It's odd that the Government has gone to such trouble to try post a surplus when surpluses are not very important.

It has only been the last 20 years or so that the nation has posted surpluses. There are a number of cases for running a deficit although not to the tune of Italy's or Ireland's.
Posted by Cheryl, Thursday, 8 December 2011 12:56:40 PM
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They won't achieve a surplus.They know it.If they do it by taxation ie carbon taxes so the economy will shrink and they'll have less tax.

Wayne Swan is probably a nice guy but is bereft of an economic nous.He should not be there.The big 4 banks made $31 billion profit.This is $2800 profit for every working person in Aust.The other $31 billion goes OS to the banks who create it with the click of a computer mouse.Micky Mouse Money for them.This is why we have gone from 3% of GDP debt in 1976 to over 53% of GDP debt today.

When we sold off our Commonwealth Bank, wealth now,is not so common.

Tax the non productive sector and not mining or manufacturing.Reward those who produce.
Posted by Arjay, Thursday, 8 December 2011 4:31:08 PM
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