Well...  We wil see... and the people also...

 

What a faark head  by the way how about we just blame labor for past and present screw ups.. how about we just blame.. aand  leet them scew us all up!!

 

Treasurer Joe Hockey warns of United States-style shutdown over debt ceiling

      Updated     11 hours 42 minutes ago    

Federal Treasurer Joe Hockey has raised the prospect of a US-style government shutdown, warning there will have to be "massive" spending cuts if the Opposition does not back down on increasing the debt ceiling.

The Government wants to raise the debt cap to half a trillion dollars, but Labor and the Greens have joined forces in the Senate to amend the plan and impose a lower limit of $400 billion.

The amended legislation will now return to the Lower House, but Mr Hockey has already indicated he will not accept the change.

He has warned Labor it will be responsible for any cuts and will have to wear them "like a crown of thorns".

"There is no choice," he told Radio National's Breakfast program.

"If Labor prevents an increase in the debt limit, there is no choice but to start having massive cuts to government expenditure because the Government is running on borrowed money - that's what we inherited."

The standoff must be resolved by December 12 when the current debt limit of $300 billion is set to be reached.

The most recent Treasury figures, released before the election, had forecast debt peaking at $370 billion by 2015-16.

Hockey 'behaving like a B-grade actor'

Reprising Labor's argument from its time in office, Mr Hockey says the Government also needs a buffer of between $40 billion and $60 billion.

But the Opposition wants the Treasurer to release his department's budget update, the Mid-year Economic and Fiscal Outlook (MYEFO), before it will approve any more than $400 billion.

Labor's Treasury spokesman Chris Bowen says Mr Hockey is "behaving like a B-grade actor trying to confect this crisis".

"This is a Liberal Party which campaigned to bring down the debt," he told RN Breakfast.

"They want to increase the debt cap by 67 per cent - $200 billion - and they haven't justified it.

"They should release their economic statement and until they do it, we would only approve an increase of $100 billion, which is more than enough - certainly to get them through this year."

Labor 'playing a game of Russian roulette'

Mr Hockey told Parliament last night the Opposition was "playing a game of Russian roulette".

"But what they don't understand in relation to debt limits is that the barrel is fully loaded," he said.

"And if they choose to pull the trigger, there's only one outcome for them.

"But the problem is there will be ancillary pain for the Australian people."

Mr Bowen reiterated that a $100 billion increase should be more than enough.

"Nobody wants to see a standoff and a crisis like they saw in the United States, and we wouldn't let that happen," he said this morning.

But the Opposition has rejected the Government's offer of a Treasury briefing, saying the Australian people deserve to know the details of the budget.

Topics: economic-trends, federal-government, government-and-politics, australia

    First posted     Thu 14 Nov 2013, 8:28am AEDT

easurer Joe Hockey warns of United States-style shutdown over debt ceiling

You need to be a member of Ashtar Command - Spiritual Community to add comments!

Join Ashtar Command - Spiritual Community

Email me when people reply –

Replies

  • How about screw ups.. that go beyond both sides...

    Stop blaming one side, just get it together and collaborate! Why can cant two parties become one!

     

    xx

  • Honestly, I cant read this small writing..... If Joe Hockey is going to do it hen let it be done... as it will only show the true intentions..

     

    Suzeexx

This reply was deleted.

Topics by Tags

Monthly Archives

Latest Activity

rev.joshua skirvin posted a blog post
 The waves of transformation now rolling through your planetary field are not only energetic, they are physical. Your Earth is undergoing realignment. The poles adjust. The solar codes intensify. The atmosphere stirs with uncommon patterns. And so…
53 minutes ago
rev.joshua skirvin posted a blog post
 Although our Sun releases radiation rays (or “cosmic rays” & Solar Flash's), there are more cosmic rays now arriving from beyond our solar system (also referred to as “deep space”) and surging into planet Earth and the other planets in our solar…
1 hour ago
rev.joshua skirvin posted a blog post
 Greetings in the Light and Love of our Infinite Creator.We enjoy the moments we share with all of you. Thank you for this TransmissionAs you stand witness to the old matrix of control crumbling before your very eyes, there is one vital truth that…
1 hour ago
Justin89636 replied to Justin89636's discussion Anything UFO Or ET Related
"Sighting somewhere over here in the US in 2023. https://youtube.com/shorts/4iw-46f7NJw?si=Ul59CnDIkaR2SgfQ"
5 hours ago
Justin89636 left a comment on Comment Wall
"Last one for now. Sighting somewhere over here in the US in 2023. https://youtube.com/shorts/4iw-46f7NJw?si=Ul59CnDIkaR2SgfQ"
5 hours ago
Justin89636 replied to Justin89636's discussion Anything UFO Or ET Related
"Sighting in Belgium sometime in 2023. https://youtube.com/shorts/wefYOFmgCcs?si=sUSbPgxvxhqFbXOb"
5 hours ago
Justin89636 left a comment on Comment Wall
"Sighting in Belgium sometime in 2023. https://youtube.com/shorts/wefYOFmgCcs?si=sUSbPgxvxhqFbXOb"
5 hours ago
Justin89636 replied to Justin89636's discussion Anything UFO Or ET Related
"Does not say where and when this sighting took place. Good footage though. https://youtube.com/shorts/-_8alreBZ5M?si=xyep4OoIXPj3NYS2"
5 hours ago
More…