Kevin Rudd says that Penny Wong has found some $69 billion in cuts planned by the libs and, he fears a recession if that were the case.

Two points, one, is this the same Penny Wong who was out with her own numbers by a staggering $100 BILLION ODD?

Talk about the blind leading the blind.

Two, if the libs do have to make cuts, and I believe they will have little choice, why does Kevin Rudd think these cuts will be happening?

The other prediction I am going to make, is that come September 15, the global finiancial crisis will miraculously disappear and all of a sudden it will no longer be an excuse.

How convenient that would be for labor.

Does anyone really believe Kevin Rudd can actually add more than 2 numbers, & get the right answer. I have never seen any evidence that he can.

Is there any reason to believe Wongy can do any better, than Rudd. All the evidence is to the contrary.

Everyone knows poor old Swanny never got the correct answer to any sum, ever. Not once did any thing he said turn out correct, in fact it usually only took a few days for it to be found far from right.

Wong does appear to be able to count, she has not yet been on the wrong side of a leader spill yet, which does prove she is better at counting than many labor ministers of recent times.

Maybe two wongs do make a rudd ?

I'm no good at Maths, but I fear Abbotts new 6 month full wages payment for parental leave will be enough to cripple the economy right there on its own!

Rudd is this the same person who called an election for September 7th and is basing his boat people policy on PNG - BUT according to Pauline Hanson the PNG prime minister faces a no confidence vote over the deal on September 10th.

This suspiciously like a con and he will then be able to say on September 10th I tried but PNG did not want to agree.

Problem is he is saying all the time it is a solid agreement.

This is a finance minister, who when providing numbers, was almost $100 BILLION out.

That's no accounting error, that's incompetence at the highest level.

How can anyone take her seriously.

What can you expect she can't even spell her name right Penny WRONG.

Rudd's NEW WAY was always just spin to distance himself from OLD Labor and the Gillard era. He certainly doesn't want to run on his own previous record either.

Seems voters are in for a lose-lose outcome: either we vote for Abbott and get "cut and cut cut to the bone" living within our means - albeit in a much less sustainable world ... or vote for Rudd and live on middle-class welfare .. but consign our kids to being enslaved to paying of his "spend, spend and more spend' extravaganza of middle-class handouts for Australians and asylum seekers ...

Surely traveloz the only decent thing to do is cut back on our spending, & start paying off the KRudd/Gillard debt, after all it was us who put them in power, & some of us must have benefited from his open cheques book style. Hell we even sort of returned them, when we had seen what dills they were.

Yep, time to bite the bullet, pay our own way, & give our kids some chance of having it as good as we've had it.

If you think the cutting by either party will be severe I can tell you
now, and store it at the back of your memory, that as our growth drops
nearer to zero, the cuts that any government will have to make will be
really real !

Our surplus money will disappear and the government will be unable to
get enough money from all taxation to maintain any but the most
essential services.
There will not be political argument as "cut cut cut" but "where where where".

Welcome to a world of very high cost energy, a low consumption of energy
zero growth and very large unpaid debt.

Our major problem will not be to increase growth but how to stop it going negative !

The amazing thing that I find is that Penny Wong along with the other economic vandals can face the Australian public after six years of lies. It must take some type of person to destroy a country and then ask to be relected with no shame.

Penny Wrong is a lesbian with a capital L. She does abominative things that Crudd approves perhaps he is a voyeur as well as an idiot.

Of course Tony is going to cut and slash, and I say start slashing. The labor party has cause all this and the voters should blame them when the cuts come. It's that or go under. It wouldn't matter if mickey mouse was PM, the cuts HAVE to be made what afrontary and gall of wong, she's just plain wong on all counts. It will take 220 years to pay off a debt those fools have run up on a credit card and they expect maybe Tony's going to carry on running the country with that millstone ?. In any decent democracy, those people would be arrested for treason for deliberatly destroying the future of Ozz. It's going to get worse before it gets better but the blame is squarly on labor and crying over cuts isn't going to fix it. Tony would do well to start by cutting half the public service - get rid of 'dept of climate change' and all the hangers on first.

Toddle off and educate yourself - there's a good pepper.

http://www.percapita.org.au/01_cms/details.asp?ID=618

...Toddle off and educate yourself - there's a good pepper.

Your kidding Piorot, surely you don't believe this incompetent mob have done a good job.

Bravo to you pepper, at least some people can see behind the labor spin.

Can you imagine where any of these fools would be if they were on a board, or even a company director/CEO.

Insulation, on trial for man slaughter.

Fuel watch, grocery watch, sacked for incompetence and wasting funds.

Live export, in hiding from angry farmers after being sacked for incompetence.

Copenhagen debacle, contract canceled and under investigation for inappropriate waste and over the top staff allowances.

Budget forecasting, sacked for incompetence and under investigation for suspected fraud and theft.

School halls, sacked for misappropriation of company funds and for being asleep at the wheel.

Gonski, a please explain as to how this can be afforded, especially given the losses we have suffered over the past five odd years.

NDIS, same as above.

There's more of cause, including the illegals debacle whereby a working system was dismantled.

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Cut the public service in half. Get rid of the quangos [http://www.bbc.co.uk/news/uk-politics-11405840]
Quasi-Autonomous Non-Governmental Organization
Bring all the military home
Stop foreign aid altogether until we can actually afford it
Rework the Human Rights and Refugee Conventions to suit our needs
Kill off the NBN
Throw up the Tariff barriers to protect Australian industry
That will save enough money to put us so far in the black we could actually afford more hospitals and schools and police and even pay higher wages to our teachers and nurses and firemen and police.

Poirot, looked at the way the govt wants us to look at the debt, the
debt position is not unreasonable.
However their position presumes normal growth.
We, and the rest of the world, no longer have normal growth.
If our growth gets down to zero we will be unable to repay the capital and probably the interest.

Other countries have been making payments by printing money or just
robbing Peter to pay Paul, or indeed charity.

The upshot is we will have to indeed cut cut cut !

You just do not have the money !

Chris, while I agree with most of what you say, it does sound like a great Pauline Hanson of an idea, but the reality is, we are a very small fish, with huge lifestyle appetites in a very big sea, and we need the other fishes more than they need us.

You see we enjoy sometimes unrealistic lifestyles, afforded only by our trading partners choices to buy from us.

In other words, we are too small to be self sufficient and maintain our lifestyles.

What I think we need is a far more efficient tax system, one that taxes money, not money earners, because whereas income can only be taxed once, transactions are taxed each and ever time.

It has been suggested many times over that a transaction tax of just 2% is sufficient to do away with every other tax we pay.

As for foreign aid, I say cut it to any country that is either in surplus, or ignores our needs. Indonesia ticks both boxes.

thankfully the disdain and hatred by our lefties on olo over the last 5 years seem to have not affected the majority of voters. Grow up amd suck it up guys.

runner,

Don't be so unassuming.

No-one does "hatred" better on OLO than you...especially when you give it your best shot to paste that vice on anyone and everyone who happens to disagree with you.

(Suck it up:)

rehctub
Increase the GST to 15%
Collect it all not only 38% (kill the cash economy which has grown exponentially since the GST inception)
Place a 10% tax on unused land (Reduce or stop tax on used land)
Increase road tax to force rail usage.
Yes to your transaction tax definitely though didn't we once have one called stamp duty?
You know my friend who is on the second top tier of ATO management on $250,000 a year tells me his wage is too much really. He doesn't need it.
He also tells me that his department only collects 38% of the available GST because they really have no way of collecting it.
He also says that if they did collect it all the worker wouldn't have to pay income tax up to $80,000 a year income.

rehctub - Indonesia as at 2012 were estimated to be $ 20,730,000,000 in debt.

BUT while we give them MILLIONS in aid they have enough to buy helicopter gunships and missiles and other essential items.

Looks to me like rather than give them aid we subsidize there military.
If they spent money on there people there would be less for the military so we do it for them. (stuff needy Australians)

Chris, increasing the GST will hurt the poorest, as they require 100% of their income just to survive.

The stamp duty was nothing like a TT, as like every other tax, it could only be collected once.

Taxing unused land will deter developers from land banking, resulting in higher land prices, a move that will make housing even less affordable.

In my view the GST is a stupid tax, as it gets paid many times over throughout the trading process, only to be claimed back, a process that must cost millions, if not billions, and the only person that actually pays the tax for good, is the end user, which is often the ones who can least afford it, especially given that they pay this tax with after tax dollars.

As for a TT, it is a tax on money, not people, and that's the difference as it can be collected time and time again and if introduced it would be a huge boost to the economy from day one.