What you think you know is very different from the truth. It's the right "whingers" who "don't like to think, and need their news predigested by tame economists that will give them suitable sound bites".

Unlike the commercial media, the ABC has an anti bias charter, and carries opinions from all viewpoints including the one you linked to. But arguments like the one you linked to really don't stand up to much scrutiny. It relies on the false premise that the debt incurred will eventually have to be repaid; in reality we're perfectly capable of rolling it over for ever.

Though it didn't meet the criteria for it to be a recession, we did have a downturn and that's why the stimulus was needed.

By my own definition, by the end of 2009, there was no longer the need for AS MUCH stimulus. Your assertion that we didn't need any was false, because the stimulus was playing a lead role in the return to normality of the growth and inflation rates. It would have taken time for the private sector to strengthen enough to retake the lead, but if we'd cut it back gradually while supporting the private sector's growth then we'd probably be back in surplus now.

What wrecked our recovery was the RBA's unnecessary raising of interest rates. That, not the government spending, crowded out the private sector's revival.

P,

You mean the $8.5bn that Whine Swan pillaged from the working capital of the RBA in a vain attempt to present a surplus on paper. This going with attempts to defer payments and and push forward tax collections. All irresponsible actions from an incompetent treasurer.

A,

The ABC has an anti bias charter that it flagrantly ignores.

Finally, considering that by the beginning of 2010 the mining boom had started, growth was nearing 3% (greater than the pre GFC growth of most EU countries) there was clearly no justification for stimulus, and in fact the extent of the original stimulus was questionable. For example the BER debacle was supposedly meant to protect jobs in the construction industry, but placed so much demand that costs in the construction industry inflated by over 20% over the pre GFC levels, by your own measure again proof that the stimulus was too much.

Talking of the ABC, did anyone see Malcolm Turnbull being "loyal" to Abbott on Q&A last night. Grit your teeth and say "I love you Tony".

Yes, Paul....how many times did Malcolm utter the words "In defence of Tony Abbott"..I counted at least three times, but there might have been more.

"...again, in defence of Tony Abbott" - Lol!

.....

That's a good one, SM...nice spinning.

The RBA wanted to build up its own capital reserves and not have to pay a dividend to the govt. Hockey wants the dividend to prop up his hanky-panky, no doubt.

http://www.smh.com.au/business/the-economy/joe-hockey-blowing-hundreds-of-millions-to-make-himself-look-good-20131029-2wcy3.html

"In the careful phrasing that characterises the Reserve Bank, Stevens today went further than his deputy. Reduce the three concluding paragraphs of his speech to bullet points, this is what you get:

The Australian dollar is going to fall.
The Aussie’s rise shrank the value of the RBA’s foreign reserves and, therefore, the bank’s capital by more than the bank thought prudent. (By implication, a falling Aussie will boost the RBA’s foreign reserves.)
The RBA wanted to rebuild its capital over several years by retaining its profits and not paying the government dividends.
Hockey’s $8.8 billion injection this year means dividends will be paid to the government over the next few years."

SM,

The ABC's anti-bias charter is not ignored, and does ensure lots of different viewpoints get heard (unlike on commercial media). That doesn't mean it's unbiased of course – people, being biased themselves, will always accuse it of bias, though usually in different directions.

Growth in 2010 was nearing 3% because of the impact of the stimulus. So while it can sensibly be argued that they should have started winding it back at that time, there was no justification for stopping it completely.

Where do you get your 20% figure?

Spending on construction enables less to be spent on construction in the future, and people do move into and out of the industry.

And WTF is wrong with the government receiving a dividend from the RBA? Did you oppose it the many times it happened when Costello was treasurer?

Just on the topic is Wacky Jacqui about to do the bolt and leave PUP and set herself up as an "independent" senator, me thinks its just around the corner.
Can anyone see any merit in a independent Senator Lambie what so ever? Unlike Nick Xenophon from SA who, love him or hate him, makes a positive contribution to Australia's political life as an independent.
It should be noted Ms Lambie yesterday tried to speak in parliament on her new favorite hobby horse 'defense pay rates' but unfortunate she was reminded by the Senate President she was speaking on the wrong bill, then she sat down and had a sulk. Get it right Jacquie!