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Economic stimulus loads the nation's credit card.



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Wednesday, 4 February 2009

ECONOMIC STIMULUS LOADS THE NATION’S CREDIT CARD

The $42 billion stimulus package announced by the Federal Government is short term gain for long term pain.

This description has come from New South Wales Nationals Senator John Williams who likened it to adding a small amount of air to a quickly deflating tyre.

“The Government is in panic mode and is going on a spending spree even before Australia is likely to go into recession.

Paying for home insulation and building homes for defence personnel now is all well and good, but I’m sure most Australians would trade all that for investment in our hospitals and securing water supplies for communities.

But there is not one cent for these absolutely vital necessities..

There is nothing for self-funded retirees, nothing for aged care facilities, and nothing for urgent infrastructure such as the Melbourne to Brisbane rail link.

It is expected the Federal Government’s debt will blow out to around $140 billion over the next two years.

The Labor Party plunging Australia into debt is nothing new, but I am concerned at the financial mess we will face at the next election.

Mr.Rudd continues to trumpet that his economic packages will create and sustain many thousands of jobs but he is placing the nation at risk trying to do so”, Senator Williams said.

ENDS

Contact Senator Williams 0427 029 918 or Greg Kachel on 0428 253 560.