P,

This is why the Green tea party (Labor/greens) should let the legislation pass:

"TREASURY has warned of a backlash from global investors unless Labor and the Greens help lift the nation's debt limit to $500 billion within weeks as the budget faces a "double whammy" from slower growth and a hit to tax revenue.

In a rare rebuke, Treasury secretary Martin Parkinson urged parliament to avoid letting politics get in the way of good government and cited the US debt ceiling crisis earlier this year as a reason to settle the Australian dispute immediately."

This is the second time in a few months that Treasury has called Labor liars.

Abbott was always on about labors debt, now wants to stack on another two hundred billion.
They need to justify why the increase at all.
Abbott,s big mouth is out of tune with Hockey.
Let them stick with what they went to the election with, but deny it of course.

579

Given Labor's complete financial incompetence, not only blowing the budget in every year it was in government, but committing the country to spending programs for the next decade, Labor's debt is going to blow out to greater than $400bn.

It would be great if the Labor would stop its Tea party politics and follow the advice of the Treasury.

Don't blame Labour, they are not in govt, Abbott and his band of merry men had it all solved, as they told the people of AU. There was no mention of raising the debt level to Five hundred billion. We are going to have a surplus in the first year, lets not forget.
Abbott and co were prepared to say anything to con the people, that is what they have to live with.
one week of parliament and we have a diplomatic crisis with Indonesia.
The only way out is for Abbott to step aside and let a new leader apologize sincerely, and get things back on track.

SM,

"Given Labor's complete financial incompetence..."

Oh that - the one which gave us the third lowest debt in the OECD in the wake of the GFC...low unemployment, AAA credit rating,etc.

The economy which Hockey described as being in "good shape"...

That one?

Yes...dreadful.

But here's an article - although the reason I post it is for the excellent cartoon...which sums it up nicely.

http://www.smh.com.au/business/parkinson-gives-hockey-a-leg-up-20131120-2xvti.html

: )

579,

Considering that the coalition hasn't put any legislation through yet, the entire budget projections are based on the spending programs put in place by labor. There is no one else to blame.

The only reason labor is being difficult is to manufacture a crisis, just like the Tea party.

P,

That's the problem Labor delivered a massive debt. The only reason it was lower than most is because the coalition left a large surplus.