Yesterday in question time Joe hockey was asked an ( unusually ) good question by Adam Bandt of the Greens.
Paraphrasing the question it was whether this was the right time to cut spending and/or raising taxes in an attempt to get the budget back into the black.
Unfortunately Joe Hockey did nit even attempt to answer the question. He sought to try and show the ALP has deliberately left the cupboard bare.
Now if he actually believes that then he is an idiot. As we saw previously that would mean he doesn't understand the difference between figures in PEFO and then later in MYEFO.
Moreover it would be nice to hear from Joe if he thinks it is the right time to be into fiscal consolidation. The last National Accounts had nominal GDP growth at a mere 3.6%. The AVERAGE up to 2011 was 7%!
If Joe introduced austerity measures now he would find out what happened in Europe. You would have the negative of contracting the economy BUT also the negative of the deficit ballooning!!
The question no-one knows as yet is does he believe in austerity measures now or not.
We will find out when MYEFO is released!
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