Lexi write

'Some people simply don't realise just how lucky they
are. '

I would call it blessed. It is however a result of good economic management from Costello/Howard who had to deal with the last Labour deficits. Some people are to blinded to realise this simple truth. The wastage in the last 5 years with nothing to show but totally shrunk superannuation screams a message. Now we need more and more taxes in order to pay for this idiotic waste. It is going to take years of a responsible Government before we recover again.

Here we are, James Kunstler can say it better than I can;

http://kunstler.com/blog/2012/06/hazardous-games.html

He has a way with words that does leave you with a grim smile.

Dear runner,

A few clarifications:

As Ian McAuley, a lecturer in public sector
finance at the University of Canberra and a
fellow at the Centre for Policy Development
points out:

"The Coalition had the fortune to hold office in good
economic times - when the Howard government enjoyed
the dividends of the Hawke-Keating economic reforms,
and when the world economy was enjoying a long
speculative-driven boom. Good luck, perhaps,
but not good management. In actual fact the Howard
government's economic report card is overall a
dismal one."

McAuley tell us that: " the claimed virtue of leaving the
books in surplus of 4 per cent of GDP when it left office -
indeed the Howard government did achieve a series of suplus
budgets: that is not difficult in a time of strong
economic growth which delivered very high tax revenue."

"But the Howard government also left Australia with
significant liabilities in terms of our physical and
intangible assets - our common wealth.

It neglected our surface transport - our interstate
roads, railroads, urban public transport. It starved
our tertiary education sector of funds. It neglected
investments which could help us to cope with the
challenges of water shortages, climate change and fossil fuel
depletion.

In short, it let fiscal impression management, displace sound
economic management and directed political attention to only
one side of the balance sheet, the debt side, while ignoring
the asset side.

If the Howard cabinet had been the board of a publicly
listed company, the shareholders would have thrown them out
for weakening the company's asset base."

Lexi

'As Ian McAuley, a lecturer in public sector
finance at the University of Canberra and a
fellow at the Centre for Policy Development
points out:'

You really are getting totally desperate in defending your hero. Just look at the Centres website and you will see its filled with leftist propaganda. Check out the Howard haters on the Board. Surely you can do better than that. Most of the general public has even woken up to the dud Government.

Lexi,

The health care subsidy was intended to encourage the more affluent to self fund some of their health care. This efficiently reduced the required expenditure by the government by more than the cost of the subsidy. The indications from the health funds is that 80% of those losing their subsidies intend to reduce their health cover (but still not pay the surcharge) with a resulting increased pressure on public health and reduced services for those on low incomes.

I for one have pre paid my health cover for the next 18 months and so get the subsidy until labor are tossed out of office.

Also McAuley (hardly unbiased) forgot to mention that the mining boom today yields 4x as much tax today than in 2007, and the huge surplus left by the coalition was squandered in record time by Labor leaving us the greatest federal debt in dollar terms ever.

Gentlemen,

All I will say to you both is that economic
credibility does count in voter land.
All the petty political and hyped grandstanding
will stop working eventually. The Opposition's
economic credentials look raggedy, at best -
and the $70 billion black hole argument will
keep getting regurgitated because there is no
answer. It will intensify before the next election.

The debate will re-focus on the Opposition's
costings and plans - including its direct-action plan
and its internally divisive new tax to pay for
some strange and expensive parental leave scheme.
The certainty on an Abbott victory will be lessened.

Mr Abbott has taken up every position possible on
just about everything. He's gone from skepticism to
warm embrace, to horrified opposition, to apparent
indifference to concentrating on the PM's trustworthiness
as he accused her of having broken an election promise
not to introduce a carbon tax. And the list goes on.

We're now hearing of a "transformation" of Mr Abbott.
We'll have to see whether wearing glasses and reading
his speeches will help improve his image. Smiling less
may also help make him appear more intelligent.

It would be embarrassing if he got dumped by a nervous
party - should there be a slide in the polls.

Because lets not forget his desperation to become PM.

Only a desperate politician could offer one
Independent a $1 billion hospital if he backed a
Coalition minority government.
I believe his mentor - Mr Howard did something
similar.