Oh Dear! Déjà Vu

30 Mar

Now where have I heard this before?

From The Age, 30 March 2012:

“[In the November 2011 Mid-Year Economic and Fiscal Outlook] the government predicted a deficit of $37.1 billion in the current year to June.

That deficit forecast is toast. The fall in the tax take since the mid-year report implies an additional loss of revenue of about $18 billion a year.”

So, about $55 billion, give or take a few billion?

From barnabyisright.com, 5 November 2011:

Brace yourself.

Not for a “return to surplus” (ie, a balanced budget, in one year only).

But for new record deficits.

In just 5 months, the Green-Labor 2011-12 budget is already shot to hell.

From barnabyisright.com, 1 March 2012:

Remember the Labor Government’s record $51.5 billion deficit in 2010-11?

They are on track to do it again this year too.

According to the RBA, Labor has racked up a $30.26 billion loss for the first half of 2011-12.

From barnabyisright.com, 12 March 2012:

If company tax receipts perform as poorly in the June half year as they did in the December half, the government will face a deficit this year approaching $50 billion.

It would be beyond the reach of the creative accounting evident in last November’s budget update to turn this into a 2012-13 surplus.

$22.6 billion deficit, forecast in May.

$37.1 billion, forecast in November.

$5? billion deficit actually achieved, at the end of June.

But never mind all that.

We are all going to believe the headlines, and the TV sound bites, and the rants in Question Time, when Wayne and Co. loudly proclaim that much-promised “return to surplus” in the May budget.

Even though it will be nothing more than a forecast.

With even less credibility than all four of their previous #epicFAIL budget forecasts.

There are only two chances of Labor achieving anything like a surplus in 2012-13.

Buckley’s. And none.

3 Responses to “Oh Dear! Déjà Vu”

  1. Betty Whiffin March 30, 2012 at 5:11 pm #

    Woe, woe, woe. How can the Treasurer get up and give wonderful speeches how the budget will be in surplus. And the stupid media applaud him? Must admit they have tried hard with tax upon tax upon tax, but they haven’t the nous to see that the mining tax will not bring in what they say. And how far will the compensation go with the carbon tax? That will soon be “oh dear we are unable to meet our promise”. With this budget farce, and the billions owed to unknown entities, Australia is in deep trouble. People should be made to see it and get rid of this inept government before it is too late. It is late enough now. OUT ALP/Greens OUT NOW you incompetent lot. Election NOW

  2. Geoff Collet March 30, 2012 at 5:25 pm #

    How do we get the message to the printed media. I understand these blogs do not get to the printed media. Lazy journalists just repeat government press releases . Might explain MSM laxity. I have suggested the coal fired power houses just shut down on July 1. Follow Alan Joyce– Qantas, That should stir something

  3. Jazza March 31, 2012 at 12:09 pm #

    Well it’s just a pity the definition of “treason” cannot be widened to include hopeless spendthrift and incompetent government members I say!

Comments are closed.

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