Kevin Rudd's $25bn infrastructure boost in Federal Budget

TUESDAY'S Federal Budget will invest more than $25 billion in key road, rail and port projects, including a heavy rail freight corridor linking Melbourne and Brisbane, aimed at hauling the nation out of recession.

The biggest overhaul of national infrastructure since the end of World War II - shifting the Rudd Government's fiscal strategy from short-term stimulus to boosting long-term productivity - will be funded by a variety of sources, The Australian reports.

via news.com.au

KRuddonomics is back! This time presenting a Swan Lake Budget! Let's hope we don't all drown...

...it seems that I will be foregoing a few more (substantial) dollars every fortnight to both the Federal and State governments to help fill in the pot-holes in the highways and freeways of the Eastern states...yet again. This annoys me!

Once again, it is without a doubt that the wealth and sustainability of Western Australia will heavily subsidise this government's mis-management of the countries finances.

And lets hike cigarette taxes to boot!

Thanks KRudd, I guess I can sit back and relax and feel good about the fact I did not vote him in! Yeh thanks everyone else...where's your economic conservative now???

Thank you to those suckers who will see their future slowly fade away into deficit oblivion...Kevin-o-seven...yeh yeh!

Sylvestor
www.twitter.com/Sylvestor

KRuddonomics! And the temple of doom.

I was somewhat bemused to see on the news last night, our Federal Treasurer, Wayne Swan, actually state the words "we are in recession". This followed our illustrious KRuddenator (PM) making the announcement at a talk-fest in Western Australia. "This recession did not generate in Australia, it came from forces beyond this country's control," he said. (http://www.news.com.au/story/0,27574,25364770-5007133,00.html)

Considering the last 5 months there has been a concerted effort on behalf of our Federal Government and its high level Ministers to completely avoid mention of the "R" word, finally we have the statement.

It came about after the Reserve Bank chief Glenn Stevens confirmed that yes, we are in recession (http://www.news.com.au/business/money/story/0,,25364267-14327,00.html) .

My surprise, really, is that for the first time in a while, the forecasters have predicted a slow-down and in some cases a turnaround in the economy (or at least parts of it!). And WHAM! sorry folks, not its now recession.

Previously it was avoidance, so as not to exacerbate the problem. Now? Its a free-for-all, it appears. And with that, yet another reason for "stimulant" spending by our Federal Government. Since the RBA has recognised Western Australia has hit "recession" (and yes, I can attest to that!) - surely then, economic and financial stimulation by the Federal Government will be heading Western Australia's way! Yes? No, don't be a dick.

"The truth is this - the global economic recession makes it inevitable that we'll have a recession in Australia which means that, as we frame the budget, we're going to have to make even stronger our economic stimulus strategy because unemployment will rise even further,'' Mr Rudd said. - http://www.news.com.au/story/0,,25365046-5007133,00.html

Thanks K Rudd. Oh wait, hang on, I've got it all wrong...its not about Western Australia being in recession. Its those damn boat people again!

Mr Swan dismissed opposition claims the Government was acknowledging a recession after months of avoiding the term to deflect attention away from the issue of boat people.

"That is completely ridiculous and demonstrates just how desperate the opposition has become," Mr Swan told ABC Radio. - http://www.news.com.au/business/story/0,,25363852-5017676,00.html

Sure thing Wayne, I believe ya

Sylvestor
twitter.com/sylvestor

Filed under: Recession