The government has dug itself into a deep hole and the walls are crumbling – » The Australian Independent Media Network

In the past five years the population has grown by just 8%, but government spending has risen by an incredible 21%. By sheer luck the mining boom has increased revenues by 27% but windfall gains like these are not sustainable.

The Daggy Dad “please like me” tour, backed up by his affable side-kick doing slide shows of endless cherry-picked graphs, is nothing more than an advertising campaign. Their claims of strong economic management are based on unrealistic assumptions about future wage growth and consumer spending and completely ignore Australia’s spiralling household debt.

They are reliant on precarious revenue from resources and seem clueless about the importance of diversifying our economy and building new industries to take up the slack caused by technological disruption and the inevitable demise of the fossil fuel industry.

via The government has dug itself into a deep hole and the walls are crumbling – » The Australian Independent Media Network

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.