ozevic

I think I find much merit in what you have to say, however 'texting' your post makes it hard to follow. Could you please use more conventional methods of writing.

Thank you.

Scout what i mean is that i wouldlike to see 4years fix term elections 10 Years under the Present Administration is far to long for any P-M..j.Howard had Plenty of Time to make a Change but he did NOT.

Some of the major issues with Australias economy at the moment and into the future I see are:
- the effect of Imminent peak oil.
- the effect of the retiring baby boomers on withdrawal of savings and investments from the stockmarket and real estate market.
- the current account deficit and debt owed to foreigners.
- high household debt and the very low/negative savings rate.
- inflation of the money supply by the banks (over 10%pa M3 growth) and the destortions it has, is and will create.

I support the government paying down the goverment debt. The government is in a much better position than the US. I also think though the government should work on trying to make people live within THEIR means, like Peter Costello is trying to make the government do.

Slasher says
"Hoarding public finances to pay debt early does not generate any future income.", but I say paying it down early or at all will reduce expenses, requiring less income to offset it.

geoff, isn't it great to have no ambitions or outlook. You prefer a high taxing govt slugging mums and dads to pay debt to foreign bankers early rather than investing in the nation's future.

We are in the middle of a resource boom, yet as a nation we are not opening up the Surat Basin coalfields. We have a second rate or maybe 3rd rate telecommunications network that does not deliver real high speed broadband hence less economic opportunity. We have an underfunded national road system which places extra costs in moving goods. We have a fragmented rail system which again places costs on industry. We have chronic underinvestment in research and development which reduces productivity.

But do we want to fix just one of these issues that will dramatically increase the national wealth, no the costello way is pay money to overseas bankers.

The Government debt was small, servicing the debt has never been the problem. As our infrastructure becomes outdated and falls apart don't worry our small minded leaders have ensured the foreign bankers have got their money and all will be well.

Save us from small minded suburban lawyers and accountants.

Slasher, you are correct in pointing out the federal government's woeful and chronic underinvestment in this country's economic infrastructure. As for the much-heralded reduction of national debt levels, the extract below debunks some of the Howard/Costello neo-liberal spin.

"There is an alternative story for Australia's economic performance over the past six years and it goes like this: government debt has been switched into private debt via the sale of about $58 billion of public assets. The household sector has borrowed from the banks to finance the purchase of Telstra, the Commonwealth Bank and other privatised entities, as well as property and other financial assets. The banks borrowed from overseas to finance the growth in household borrowing.

This activity has helped generate asset price inflation which, together with low interest rates, has encouraged households to increase their level of debt from just under 90 per cent of annual household disposable income to just under 130 per cent of household disposable income.

The household sector is mortgaged to the hilt.

Because most of the build-up in foreign debt is owed by the banks, the debt is effectively government guaranteed by the taxpayer through the Reserve Bank.

The sale of government assets could be justified if virtual government was efficient government. It isn't.

It is madness to sell off high-yielding assets to pay off low-cost debt. What household or business would sell fixed assets and then lease them back over 30 years on an indexed basis, which leaves all the risk of ownership - and none of the benefits - with the vendor? This mad accountancy is obsessively pursued in the name of budget surpluses."

Full article:

http://www.theage.com.au/articles/2003/03/12/1047431094435.html

Peter I want to bring you back to reality, like Tony you are a member of The Liberal Party.

So how can anyone believe what you write is your own personal opinion and not written by the Howard Government spin Doctors?

Also it is good that we have this forum, as without it the only answer people would get from the likes of Tony and Peter are standard templates reply and before people especially the Howard Supporters reply, they should know the facts, I am not a member or supporter of The Labor Party at Federal, State or Local Level.