EYE-BALL Guru on – Treasurer Wayne Swan – Mini Budget Part 1 – paints a false mirage to protect his legacy –
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– Treasurer Wayne Swan –
– – Mini Budget Part 1 –
– paints a false mirage to protect his legacy –
| Author: EYE-BALL Guru | 22nd Oct 2012 |
|In a news story out this morning covering the Treasurer Wayne Swan’s comments to the Nation about the mid-year budget review – he looked to cover his ass with the Australian people and did so with the full knowledge that he has mismanaged the Australian economy and is now looking for an excuse to paint the Government as an innocent.Mr Swans reported comments are produced below .
The full context of the story in which these words were stated appears below:
It is not hard to prove the Government finances – the RBA budget papers – linked here – present the ‘Revenue’ collected by the Treasury from tax collections as detailed in the following data:
Net Payee Tax Revenues: [A$Billions]
Net Companies Tax: [A$Billions]
Sales and GST: [A$Billions]
Interest and Dividends: [A$Billions]
And the summary of all Tax collections: [A$Billions]
Now if one was to turn to the ‘expenditure’ ledger then much more is revealed:
Summary of all Expenditure: [A$Billions]
There is an increase in yearly spending amounting to $154 billion in the period 2007-2012. This compares with revenues that increased by $84 billion during the same period – a natural shortfall that cannot be blamed on revenues – forecast revenues perhaps, but then that comes back to the economic management and how horribly wrong this Government mis-managed the aftermath of the GFC crisis, and now we are all now going to start to pay for that mis-management.
The cumulative results of this Governments spending over the past four years is presented below:
[All data Sourced from RBA statistical data] … and this after consecutive budget surplus’ since 1997 amounting to A$163 billion – of which A$80 billion happening since 2005/2007-08.
Treasurer Swan deceived the Australian people – the treasury shortfall is not because of falling revenues as can be seen – the 2007 number of $254 billion compares with the 2012 figure of $338 billion – that represents an increase of near 40% over the period.
There is much more to be said on this debate as the mid-year report is analysed further. Please do not be fooled by our fool of a Treasurer … they are looking for a way to escape their mismanagement culpability.
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The EYE-BALL Guru …