THE BUDGET

[newstart2380]

I listened to Amanda Vanstone and Grahame Richardson this morning and what I heard was very concerning.

They both agreed that what ever party wins the election in September the GST will most likely rise at some stage to at least 15% because the deficit at this stage ( and rising) is so huge and there is NO money in the coffers.

The mining boom has weakened somewhat and this government has grossly overspent, the OZ dollar is to strong against other currencies but GR stated any credible treasury department would have foreseen and taken appropriate measures long before now because the OZ dollar has been high for over 2 years.

The Swan budget will be interesting but I think it will be his "swan song"

[*crikey*mate*]

well at least 15% is an easy (ish) figure to calculate... Though I'll have to learn and practise how to divide by 16...

*sigh*

multiplying by 10 and dividing by 11 is so much easier.

[catsnknots]

Even worse it that we will be posting deficits for a decade at least... 

The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble... 

might not be Labor's fault completely.. but they have done nothing to help... they ignored all the opinions that we are heading for trouble and said it was just fear mongering... 

Well, we are there... I hope people don't have huge CC debts and that they managed to put some cash away... we are in for a bumpy ride. 

[twinkles**stars]

also listened to this with much interest this morning. quite concering

[newstart2380]

Even worse it that we will be posting deficits for a decade at least... 

The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble... 

might not be Labor's fault completely.. but they have done nothing to help... they ignored all the opinions that we are heading for trouble and said it was just fear mongering... 

Well, we are there... I hope people don't have huge CC debts and that they managed to put some cash away... we are in for a bumpy ride. 

LL has said on a few occasions he/she does not have CC debt so maybe he/she could give us all a lesson in how to live without using credit.

Must be clever,very frugal and not do much because governments can't work without credit. 

[twinkles**stars]

?.....I live without a credit card. I do have a debit credit card but never used a credit card. Live within my means.

[bella_again]

I have a cc and its at its limit but its only a quarter of what its limit was and I brought part of a car with it.  I had no other choice at the time but interestingly enough the interest rate is way cheaper than a car loan anyway.  Credit is not a bad thing if you budget well.

I don't think the ride everyone claims we are in for will be much worse than whats happened previously, its just a matter of weathering the storm.

[freddie*rooster]

No CC here either, I have a debit card, so I only buy what I can pay cash for.

[izabsmiling]

I got a credit card when I was a single parent...to pay for car repairs .

I paid it off and us it when and if necessary.The more you have the easier it is to live within your means.

[monman12]

"The economy is BAD... people are STRUGGLING... there is no money and people have stopped spending.. we are in trouble... "

Codswallop.

ABS: Full-time adult average weekly ordinary time earnings  :$1,393.

I am financially secure, and do not depend on any government welfare, purely because many years ago I planned, and saved, for my retirement.

"Credit is not a bad thing if you budget well"

If you budget well you would not require credit (card) other than to use it for a short term buffer and/or a means to avoid carrying too much cash, and certainly never to reach the point of paying interest.