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EYE-BALL’s Guru on – The Wayne Swan 2013-14 Federal Budget – A Special EYE-BALL Guru Report Part 1 –

May 18, 2013 4 comments
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Latest GURU Posts:


– 14th May – When is Government a Business and – when is Government a Government


– 13th May – Wayne Swan’s “Treasury Mistakes” – The Evidence of Incompetence – a Ponzi expert in the making.


– 10th May – Wayne Swan’s “Treasury Mistakes” – A Follow-Up


– 29th Apr – Wayne Swan’s “Treasury Mistakes” – Heads must roll – Swan and Bradbury must accept responsibility’ –


– 23rd Apr – Wayne Swan’s – “Investment pipeline” – disappearing before his eyes – where does he go for his next ‘bunny excuse’ –


– 21st Apr – Wayne Swan’s legitimacy – He Says … ‘high A$ causes $7.5b hole since Oct ’12’ – He’s a unique type of idiot  –


– 14th Apr – The Debt Clock ticks … Tic Toc … – Gillard just spent another $3,000 – counting the real cost of this ALP Disaster –


– 5th Apr – Superannuation 2013-14 –  the Government’s new Slush Fund – Proposed Changes show SWAN and SHORTEN’s stupidity –


– 4th Apr – Australia’s Parliamentary Remunerations –
– Part III – Superannuation – The Future Fund –


– 3rd Apr – Government not happy about its tax collect – Claims Tax Minimisation deserves ‘Naming and Shaming’ –


To see more GURU posts: – click here …


Title:
– The Wayne Swan 2013-14 Federal Budget  –
– A Special EYE-BALL Guru Report – Part 1 –
| Author: EYE-BALL Guru | 18th May 2013 |
Treasurer Swan’s  2013-14 Budget speech has been delivered, Mr Abbott’s reply likewise – the verdict is in the eyes of the beholder.

Swan’s ‘Groundhog Day ‘ promise of another surplus some years hence tests us all.

His creditability lies in tatters and he has again applied for another $50 billion credit over the forward estimates.

In reply – Abbott was slick, concise, and maintained his ‘small target’ image that so infuriates the ALP.   Abbott does not have to beat a drum, offer lollies, or make anything bigger that it has to be … come September it will all fall to the Coalition as the toxic ALP brand  drags itself over the cliff into the abyss.

Swan’s vision of Australia’s future is a fantasy of his own imagination,  ever hopeful the electorate will believe some time before the Sept ’14 election.

Gillard and company want the ‘cock-fight’, a gutter contest where they believe they can best Abbott. The electorate have turned off Labor causing the rant that beats to their angst.  They are a confused and manic mob probing for any leverage to engage an already disengaged public – the echo of the death-knoll sounds in the background as the funeral march as begun.

For any ALP message to penetrate, they have to first have to deal with the ‘creditability’ issues.   The Coalition advertising campaign will not let us forget the promised and failed surplus’ and more.

Swan’s current budget exposed all the ‘grave-holes’ prepared over the past six years and they have now became uncovered for all to see.  The task is how to link the ‘zombies’ lurking in the pathways that hold the keys that protect all these budget black-holes.

It is time to expose Swan’s PONZI scheme designed to defraud Australia under the guise of ‘Jobs Jobs Jobs’ and a lunacy that lies to protect itself from the truth.

Table 3 below helps reveal the numbers that entrap Swan in his past manipulations with the Budget forecast/estimate numbers – Swan has become good at moving them around and putting them back together every year to come up with a newer version that fits the political agenda and message for the time.

This fraud began in the turmoil of the GFC spend, and has continued ever since.

Unaccounted for spending across all the stimulus initiatives is still a matter not resolved, compounded by the Gillard agenda to socialise our political landscape.

Gillard has no financial kudos, she comes from the criminal side of ‘Lawyerville’ … and fraud is no stranger to her or a number of her AWU partners in crime.  What’s a few hundred $billion between comrades all from Union careers steering this Nation to a vision only shared by a small minority.

Gillard and her cronies are the apocalypse … they have hijacked traditional Labor values and voters are wise enough to see the future under a brazen hussy without a moral bone in her body.

But beyond the obvious, proof is needed to confirm the fraud … and it is contained in the Swan Budgets, their forecasts, and the reality of how those estimates and forecasts compare with the actual results.

The Result numbers don’t lie

Remember Swan’s 2012-13 budget surplus of $1.5 billion –  announced on the back of 4 consecutive record deficits,  i.e. 2008-09 -$31.3 billion, 2009-10 -$56.5 billion, 2010-11 -$51.1, 2011-12 -$47.0 billion, well the latest update after four revisions since Nov 2012,  is that the $1.5 billion surplus for 2012-13 will now be a $19.4 billion deficit.

In addition, remember these words spoken by Mr Swan in his Budget speech May 2012 –

The four years of surpluses I announce tonight are a powerful endorsement of the strength of our economy, resilience of our people, and success of our policies.

In an uncertain and fast-changing world, we walk tall — as a nation confidently living within its means.

This Budget delivers a surplus this coming year, on time, as promised, and surpluses each year after that, strengthening over time.

Those promised surpluses lay in tatters as Swans horror’s all come back to haunt him …

The forecast budgets for 2013-14, 2014-15, and 2015-16 all predicted as surplus’ 12 months ago, now have headline forecast results of:

  1. 2013-14 – $25 billion deficit,
  2. 2014-15 – $21 billion deficit,
  3. 2015-16 – $9 billion deficit,
  4. 2016-17 – $3 billion deficit,

…and Mr Swan now believes he can deliver a balanced budget in 2017-18.

The reality of these numbers are daunting in the backdrop of a global financial crisis where debt is the enemy.  Gillard and Swan have walked us to the edge of the abyss and they think they have done no wrong.  Swan so often uses the words ‘envy of the world’ when he talks about Australia’s economic numbers and the current debt/GDP levels.

The mind boggles at Swan’s flippancy and the post mining boom direction this Nation is headed toward.  The rest of the economy is already on life support due to inaction by both the Government and the RBA to do something to stem the impact of 10 years of high A$ value.

Where will Swan turn when the resource ‘cash and carry’ trade unwinds and capital flows out of Australia?  Why will his rabbit look like when interest rates begin to rise and revenues really do begin to fall away?

Swan predicted surplus’ in his first ever budget in May 2008 as follows:

  • 2008-09 – $23.6 billion,
  • 2009-10 – $20.9 billion,
  • 2010-11 – $20.5 billion, and for
  • 2011-12 – $20.5 billion.

These original forecasts predicted a cumulative surplus of $85.6 billion over the next four years.

The cumulative total of ‘actual’ Budget results since 2008-09 is a total of $205.3 billion in deficit’s and new debt.  That is a difference in ‘forecasts verses actuals’ through 2008-09 to 2011-12 of $290.9 billion.

That is a $12k+ spend for every man, women, and child in this Nation.

2012-13 was to be the return to surplus followed by another 3 years of surplus’ as Swan told us in May 2012.  Well the 2012-13 result is now forecast at $20 billion deficit with another three years or forecast deficits to replace the surplus’ Swan promised 12 months ago.

Swan wants to say that the Australia’s GDP/Debt ration is the envy of the world – without China buying our resources, we might not have that luxury … Swan does not get it … Howard Costello spent 10 years paying off the Hawke/Keating debt legacy, and then all Rudd, Gillard and Swan could do was open the credit card again.

There was reason in 2008-09 with the GFC threatening.  But by 2009-10 China had saved us yet the spend continued in even increasing budget deficits.

Swan, Wong, Gillard, and the other MP’s tasked with selling the Budget message, will only want to talk to questions on the future.  Yet – until The Government answers questions on why the Treasury modelling got it so horribly wrong, Swan and the Government’s creditability will be like the opinion poll forecasts … nada, nada, nada … no more thankyou …

In the ‘Budget Speech’ after-show media frenzy – and you really should see some of the ‘Front Page’ cartoons the morning after, ‘and to give you a glimpse two more have been pasted below – many thanks for the easy cut and past option from the Newspapers concerned, and to that end I have tried to accredit where possible…’

Some Levity … The Australian Front Page Post Budget morning:

The Courier Mail post budget:

Watching ‘News 24’ after Swan delivered his Budget,  I felt sick listening firstly to Swan, and then to Wong as they both provided their sales pitch and narrative to the budget just delivered.  Their version of the fraud was all about hard-selling the ‘revenue writedowns’ in efforts to rewrite history.

Reaction to the Budget from political experts, economists , and industry groups has been one of porous scepticism.  Commentators on the ALP loving ABC the next morning were fragile in their optimism … Swan’s creditability was not something they wanted to talk about at length.

The media had already focused their attention on Abbott’s reply … could they be more obvious … that Michael Rowlands is one heck of a goose …

All this ‘noise’ … and the most likely outcome is that Swan’s best efforts will sink faster than the ‘Titanic’ as the election rolls on and the polls decide Gillard’s and Swan’s fate well ahead of the election date.

Interestingly though – at the National Press Club address on the Wednesday after the Budget speech – Swan boldly stated that he expected the ALP to win the next election.  He commented on the continued ‘small rubber-ball’ target the Opposition Leader represents and that all the drama has been around the Government.

His performance at that National Press address and during the Q&A after was full of hubris and dismissive to say the least – questions with 3-4 prongs and taking 40-50 sec to ask were answered with one liners and one word responses.

It was contemptible and gave all the indication that the journo’s in attendance neither had the balls or the knowledge base to challenge Swan and put him down with questions that challenge everything he presents as factual.

End of Part I …

  • In Part II of this series – the Budget is further examined via the economic triggers that form the framework around the Treasury modelling …
  • The Hansard record of Swan’s Question time responses the day after the Budget are reviewed and analysed … and
  • The impact of Government stimulus on GDP growth and the unravelling of Australia’s fast GDP growth rates … and more …

Meanwhile some reading of the 2013-14 budget papers can be obtained via the links below.

The 2013-14 Budget:

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