More anxiety ridden scaremongering from Hockey

Hockey is a dramatic actor and will expressively play his political machinations through distinct repertoire of body language.  We had a ‘jolly Joe’ before Christmas and now there is the ‘furrowing his brow, bowing and shaking his jowls’ with the foreboding bad news of the budget.

As Treasurer, and without an economics degree, ‘Hockey comes across as full of bluster and bombast.’  Today he states ‘I’m dealing with the reality here.’ This is an interesting comment given this government does it’s best to ignore reality. The scientific data of climate change and ecological devastation, the denial of statistics that underpin equal opportunity to health and education to strengthen economic prosperity with positive social outcomes rather than at the cost of social outcomes that only ever touch the vulnerable.

 

Hockey continues, ‘The reality is that if we do not make the decisions that are necessary in the May budget and if we allow the budget to continue running deficits and increasing debt, Australia will have a lower quality of life, a lower standard of living than that which we’ve had in the past.” Guess who he means will need to shoulder this lot. Not the excessive middle class welfare lot now with their gold-plated parental leave who right now are lucky enough to have a job and probably a working spouse and probably supportive family members to help out.

Alex Millmow, of the Canberra Times says, ‘… politicians use the economy as their plaything to score political points. The scuttlebutt and adversarial politics does not elevate the community’s understanding of economics.’

Ross Gittins tells us that the downturn in the economy is primarily the result of the current governments policies but enjoy the opportunity in this early stage of their government to place blame on their predecessors. Gittins writes, ‘Although most of the deterioration in the expected budget deficit for this financial year is explained by government policy decisions (the ones Hockey tried to blame on Labor), for the following three years the expected deterioration is almost wholly explained by Treasury’s changed economic forecasts and projections.’

It is easy to see why Hockey is so anxious and full of scaremongering, it is because he is detached from reality, driven by ideology to take from the poor and give to the rich and he is an incompetent manager of reality and the position of Treasurer.

The former Treasurer, Chris Bowen, who does have an economics degree, and does take note of reality as based statistics as accurate according to the best in their areas (such as the overriding number of scientists that conclusively support the evidence for climate change and Christine Lagarde of the IMF and other creditable sources) of social impact and opportunities for an economic prosperity with positive social repercussions) across a broad range of informational areas, tells us the ‘Coalition has ‘blown out’ debt forecasts’ and references an ‘independent analysis showing gross debt in 2023-24 would be about $270bn less than predicted in outlook. In contrast to the hyperbole of the Coalition, Bowen said the budget “would be in surplus by $34bn by 2023-24 – a $46bn swing from the $12bn deficit in Myefo”.
Bowen’s says that the considerable variation between the two sets of figures shows ‘The government has sought to blow out the size of the debt and deficit over the next decade as part of a clear and deliberate strategy to cynically mislead the Australian people about the previous government’s legacy and to set the scene for severe cuts to services and more broken election promises.’

 


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