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Economic stimulus

The ailing economy has been supercharged against recession with the Government unveiling a massive $42 billion stimulus package and the Reserve Bank slashing interest rates by another 1 percentage point.

What do you think of the Prime Minister's plan, which will plunge Australia into debt and the budget deeper into deficit? And how will the money in the mini-budget help your family through this economic crisis?

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Date: Newest first | Oldest first
I believe the country will need to go into debt to survive this downturn caused by capitalist greed, but I do not agree with the cash handouts for almost everyone. The cash could be put to much better use by increasing our own manufacturing such as in the wool industry. Gone are the big cotton & woollen mills of the 20th century because of the so-called free trade. Europe and USA have their own protectionism so what makes us so different. It is ok propping up the Third world countries to a certain extent but not if our own country is suffering high unemployment and financial woes.
Posted by annieb charlestown, 5/02/2009 11:13:02 AM
THE measures haven't even been passed by Parliament yet, Brenda. Can we take a moment or 2 and see what Bob Brown and his Greens, Steve Fielding from Family First and a few other Senators think about the Kevin 07 package before we pass judgment !!
Posted by Cedric, 5/02/2009 11:32:27 AM
This 'explosion' reminds me of peaceful Pearl Harbour that Sunday Morning. The reaction by the carnage was the resultant atomic bomb, not in the sea to demonstrate 'might unleashed capacity', but direct civillian destruction, not to one city but to two cities. Then the nuclear 'after-reaction' for generations to come. Do I need to spell it out. The world is still crumbling, but Australia is not like Britain, Iceland and factories shutting down and reducing work hours. I think PM Rudd is acting too soon, as yet the US has to create a sizable response. Hold off till Easter, plan to take the 10%GST off 'buying&selling' within our shores first for a 3 year halt time, as the market stimulus to working families who are allegedly 'struggling'- since interest rates cuts have eased the monthly burden needs time to prove if low income and working families 'are really struggling'. I pay $370pw rent with us 2 share a house and we are not struggling, both on a DSP. My $1400 is still in the St George. Petrols fine, groceries are mainly from Aldi and 'new clothes' from the Op shops- often brand new in fashion! All white electricals are fine, 1500videos secondhand are ok, DVD over 1000 bought fortnightly within a normal DSP budget. WE ARE NOT STRUGGLING!
Posted by adaptapensioner.com, 5/02/2009 11:51:21 AM
I couldn't believe it when I read the "we are being left out" by pensioners in Dubbo in relation to the $42m, stimulus package. For goodness sake, I'm a medium income earner who has sat and watched for years as lower income and higher level income earners have had tax cuts whilst we got nothing. We were greatly surprised last year when we got a tickle(at last). The pensioners got a nice handout in December or has that already been forgotten. We didn't, we just paid for it. I have no objection to the pensionsers getting some more, but for goodness sake let's just be thankful right now for what we've got. Theres an American greed led world crisis going on, stop whinging and get on with it and we'll all come out OK.
Posted by The Colonel, 5/02/2009 12:42:34 PM
The idea of hadning out money in the hope that people, perhaps recklessly, spend it leaves me torn. One the one hand I agree it will help the economy recover which will ultimately benefit myself, on the other I hate the idea that thoughtless consumerism is the order of the day. The responsible option of paying off debt is unfortunately not what is going to help.
Posted by jimi_jones, 5/02/2009 1:57:33 PM
I don’t believe this stimulus package will amount to much in the next year or so. The effects of the first round of cash handouts by the government is still being debated and what did it really achieve? Nobody really knows. There are some disturbing statistics that gambling revenue went up considerably. That to me is an indication that the government should wait until they do know exactly what they are doing. Plunging the country into debt during a world recession when our countries income is severely compromised seems dangerous. I would have liked to hear more in the way of tax relief for business, freeze pay role tax and compulsory super contributions for two years to allow businesses to keep cash flow and retain workers. What about consultation with business leaders and entrepreneurs. Instead of shutting out the Liberals why not team up and come up with a real strategy rather than rush forward with a plan that has been compiled in just a few weeks.
Posted by chrisc, 5/02/2009 2:59:28 PM
well im sorry to say, i am a single Full time working mum of 3 children. As for my wage well i am a fully qualified childcare workier that brings home 620.00 per week, i pay 360 per week rent, 60 per week for fuel to get to work and 80 per week for day care fees. i am left with 120 per week to buy food, pay utilities and buy the children's essentials. So with that there are some of us that are tax payers that do deserve a break. and i am currently looking into a night time job in order to keep paying taxes and in order to support my children. I can tell you i have paid taxes for 16 years so i will take 950 to buy my kids a bike, a luxury that they havn't had for as long as 3 years then i will take them out to tea, another luxury that my hard earn't money has not been able to afford.
Posted by bella, 6/02/2009 6:13:36 PM
I could not believe the self funded Pensioners whinging that they won't get a handout this time. One does feel sorry for them!!!!!!! How about the rest of the Pensioners, they paid tax all their lives, surely that counts for something does it not???? Gee ,I can't wait for the May Budget!!!
Posted by Monty, 6/02/2009 8:26:11 PM
The Colonel on 5/02/2009 12:42:34 PM You said; "Theres an American greed led world crisis going on..." Let's not blame the Americans for the lot. As a nation we've been greedy too. When Howard came to power there was 90 billion government debt. He sold public assets to wipe it, I could have done so too. Now we have 700 billion private debt and a lot on credit cards at 18% interest. Governments borrow far cheaper than that. Reflect on our own greed, the American situation was only a trigger.
Posted by The real observer, 7/02/2009 2:20:35 PM
“National rivalries, hatreds and intrigues will cease, and racial animosity and prejudice will be replaced by racial amity, understanding and co-operation. The causes of religious strife will be permanently removed, economic barriers and restrictions will be completely abolished, and the inordinate distinction between classes will be obliterated. Destitution on the one hand, and gross accumulation of ownership on the other, will disappear. The enormous energy dissipated and wasted on war, whether economic or political, will be consecrated to such ends as will extend the range of human inventions and technical development, to the increase of the productivity of mankind, to the extermination of disease, to the extension of scientific research, to the raising of the standard of physical health, to the sharpening and refinement of the human brain, (Baha'u'llah, The Proclamation of Baha'u'llah, p. xii
Posted by fzareey, 8/02/2009 11:41:39 PM
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