Malcolm Turnbull's reason for opposing the Rudd stimulus package is that he doesn't want to saddle future generations with a burden of debt. Whilst that makes for an easy and simple headline it is the wrong reason to oppose the legislation.
The central argument either for or against the legislation has to be whether the proposed measures will result in economic growth which in turn will enable future generations to repay that debt.
For example if you go into debt to fund an overseas holiday is very different to going into debt so that you can travel overseas to further your career. Or for that matter a business will go into debt to purchase machinery that it needs to remain productive - it will always be a risk but it is a calculated risk.
Where the opposition is letting the Australian public down is in not examining the proposals to see if the debt will be a productive debt or unproductive debt. Some of the proposed measures will clearly benefit both present and future generations for example the education measures, others ought to be viewed with a great deal of scepticism.
A responsible opposition will do more than just fulminate against creating a debt burden for future generations.

*Where the opposition is letting the Australian public down is in not examining the proposals to see if the debt will be a productive debt or unproductive debt.*

Well it seems fairly obvious to me, for the Govt to borrow money,
to give to people to waste, is more about trying to buy brownie
points with some of the electorate and more like bandaid economics.

Australia is not short of run down infrastructure that needs
upgrading, this is a great time to do it.

So if people spend their lollipop giveaway money on consumer
goods, alot of it will land up in China.

They could buy a good car, it will go to Europe or Japan.

They could buy a new computer, it will go to Taiwan.

Best they spend it on beer, wine or prostitution, for then
the money will at least stay in Australia :)

Yabby "is more about trying to buy brownie
points with some of the electorate and more like bandaid economics."

Where is your sense of history Yabby,

you do not need to invent new words or similes what is

Blatant Vote Buying and

Pork Barreling

I find the wholle "stimulous" package is a bit like stimulating a child with candy....

a moment of sugar induced hyperactivity followed by the tantrums of the come down after...

and the nanny state is so good at telling us not to over stimulate the kiddies, it seems, as in most things, these socialists are completely incapable of following their own preachings.

Well, if The Aussie govt is wrong with it's actions, so is just about every other wealthy country taking action with stimulus packages. So, pretty much the entire first world must be wrong then!

Are they wrong? I think "not". It will of course not "solve" the problem, as govts fully realise. What it will do, long term, is lessen the severity of the crisis. Is there a price to pay for this? Of course. In the "real world" nothing, even improved economic conditions, comes for free.

TZ52HX "Well, if The Aussie govt is wrong with it's actions, so is just about every other wealthy country taking action with stimulus packages. So, pretty much the entire first world must be wrong then!"

For a start Australia is in a different position to UK most of Europe or the USA...

Australia as a is Free of gevernemnt Debt, following aa decade of Liberal Coalition responsible economic management and prudence...

The rest is not debt free.

This crisis is like a "Perfect Storm" where a crisis in banking CONFIDENCE came together with a surge in borrower defaults (jingle mail) due to government tampering in bank lending policies set up under Clinton, follwoing on from the downturn initiated in USA by the spike in oil prices.

The particualr storm has dumped on the interbanking sector and their "confidence" in the ability of borrowers and other bankers to repay the current debts they owe, let alone long term debts.

Anyone who reads about financial matters know companies like General Motors and Chrysler and to a lesses extend Ford, have been economic basket cases for almost a decade and the referee has been counting them out for a long time.

Anyone who is old enough to remember previous recessions knows throwing money at "government infrastructure" helps building workers and other who own the union movement, which in turn owns the labor party but it does nothing for the "self funded" retirees, whose prudence in the past is rewarded with financial ruin in the present.

So YES "The Aussie govt is wrong with it's actions"

and we (you and me) will pay for it and so too our children and grand children.

Of course we have had a surplus, anyone who doesn't fully realise that is living under a stone.

Whether or not a country is in surplus, packages designed to stimulate within the context of the current "unique" world events, will lessen the consequences and severity of the crisis. It's "unique" because the convoluted events that precipitated this crisis have never once had the same cause/affect in previous history.

Now Col, you may possess all the answers, and know that almost all first world governments are wrong, wrong wrong, but you're not in charge and no consequences or risk results from your "opinions"; you can say and believe whatever you want, and there's no responsibility on your shoulders. However, the leaders of the first world MUST act, and the broad worldwide agreement amongst governments in power, is that the various stimulus packages in tandem will reduce the severity of the crisis. This reduction in severity also comes at a cost, as EVERY government fully realises. You get NOTHING in life for free.

TZ52HX “Now Col, you may possess all the answers, and know that almost all first world governments are wrong, wrong wrong, but you're not in charge and no consequences or risk results from your "opinions";”

So you know what I do when not posting here?

You know which “arenas of influence” I frequent?

“and there's no responsibility on your shoulders.”

Wrong… Like every other tax payer, I will wear the responsibility to work harder to pay the elevated levels of tax this present government strategy will require and
I know I would otherwise spend what I earn with greater respect than the bunch of socialist meddlers will spend those taxes with disregard.

“You get NOTHING in life for free”

Yes well, as someone who pays tax I certainly know that…

I would recall it was Margaret Thatcher, in her book “Statecraft” who said

"If one generation is expected to carry an excessive burden on behalf of another, it will seek by every means to avoid it. It will either demand that past promises are broken, or it will not work, or it will not pay taxes, or the most talented people will leave. Socialist governments which have tried to tax 'till the pips squeak' have ample experience of that."

The issue is not

“How to feed consumption ? (present Krudd Socialist strategy)”

But

“how to restore confidence ?” (the bit the swill has never understood)

The profligacy of the Socialists in the incumbent Australian government will be paid for by the next two or three generations, and the self funded retirees of this generation.

Fortunately for me, the major plank of my “superannuation” are private company shares which are not traded but which own the wealth generating processes which in turn provide a handsome recurring income.

When you are ready to understand grown-ups, you should come and hear me talk of the merits of dividend imputation on marginal tax rates.. a fascinating topic but only appreciated by those who actually pay tax.

Governments of all political persuasions are instigating stimulus packages the world over. Why are they doing this? Because that's what's needed to lessen the consequences of the worst financial disaster since the great depression. In Australia, the Liberal Party, if in government, would be doing the opposite of what they are saying in opposition. It would be structured differently to Labour's package, but a Liberal stimulus package there would be.

But all this doesn't interest our resident genius "Col". According to Col--- Col knows the "socialists" are to blame for everything that's gone economically bad in the world. Col knows exactly what will, and will not, alleviate current economic woes worldwide. And of course, Col has his own investments all under total control and continues to rake in spiraling profits for himself.

Col's an economic genius, with "ALL" the answers. Gee, it must be wonderful to be so perfect, and so all knowing.

At least his "opinions" and "theories" and "boasts" make good comical reading. Nothing like good, light entertainment for a laugh.

"Col's an economic genius, with "ALL" the answers. Gee, it must be wonderful to be so perfect, and so all knowing."

Why not challenge my views with substance rather than attempt the sarcasm of the dull witted?

Its not difficult to do, for anyone with an IQ larger than their shoe size... although it does explain you.

"According to Col--- Col knows the "socialists" are to blame for everything that's gone economically bad in the world."

please quote where I have suggested the socialists are to "blame for everything" on this thread.

Being responsible for stupid policy in the face of a crisis is not to blame anyone for everything, it is to simply recognise that the wrong response to a crisis is the wrong response to a crisis.

If you think pump priming a bouyant eceonomy, an economy which just a year ago was being dampened down with increasing prime interest rates, is the correct action, then suggest it and I will tell you why "fiscal prudence" should be maintained and why all that is happening with Housing grants is to enhance the price of already overvalued real estate which people will buy and then default on when the overheating from the stimulus package cools and they lose their jobs and why simply throwing money at people does not result in an economic stimulus, as has been observed by many experts.

I think you must be a two handed jerker otherwise you are in serious risk of a repetetive strain injury on the arm you are deploying.

It seems Col is the receptacle of all knowledge. According to Col, the governments of almost the entire first world are wrong, but "Col" is right. Rest assured folks, "Col" knows all the solutions.

And if you don't agree with "Col", well according to "Col" you're then a "jerker".

Boy, Col's just so intelligent!

Great comedy entertainment value though.