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Old 13th May 2009, 01:59
  #28 (permalink)  
DutchRoll
 
Join Date: Apr 2000
Location: Oz
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Skystar320, the "loose grip on reality" I mentioned in my previous post is perfectly illustrated by your comments:

During the Howard Government we were posting surplus of $10billion dollars. It took a year for the new government to post a massive $57billion DEFICIT
OK, some very, very basic history here: Labor's first budget, still riding on the good times, was also a massive surplus. The global financial crisis caused a rapid collapse in tax revenue. Company earnings (and therefore the tax take) plummeted, among other revenue sources. According to the Treasury, revenue will be down by $50 billion next year, having already plummented $23 billion this year.

Now, elementary maths: If I have a $10 billion surplus, and lose $23 billion in revenue one year, followed by $50 billion in revenue the following year, what is the net result I'm looking at, before I've even started spending money?

It's OK, take your time. Don't rush the answer. You may use a calculator if you wish.

I'm not debating whether or not their spending is warranted, but I'm a little surprised at the lack of sophistication of your statement (another way of saying it's extremely simple-minded).

I like to think pilots are smart, intelligent, rational people who can stand back and assess the reality of a situation. It frustrates me no end to be reminded that I'm hopelessly wrong in this respect.
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