Australian Senate musings
Monday February 9, 2009
Glenn Milne in The Australian writes on how Rudd will need all 5 minor party & independent votes in the Senate.
Have we all written off the prospect of buying off a National (or two)? Barnaby?
Glenn Milne in The Australian writes on how Rudd will need all 5 minor party & independent votes in the Senate.
Have we all written off the prospect of buying off a National (or two)? Barnaby?
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Milne is probably right. Judging by his performance in the Senate Committee, Barnaby is implacably opposed to the package (and is ignorant of basic economics).
The problem with basic economics is that it is wrong. The assumption with a stimulus package is that it is designed to stimulate the economy back to its right and proper path. All we need to do is get people back to where real debt increased at 8% pa and the economy will be fine. This is effectively what Greenspans puts did. Until the level of debt made them insufficient. There will be reasons for the government to spend money but it needs to be targeted towards long term goals not just throwing money around.