Well, we all know what Julia Gillard’s imaginary friend John, would do…
It would seem the time tested proverb; “those who don’t know shit are doomed to stand in it…” will come home to roost tomorrow night.
The definition of a budget deficit is when Government spending exceeds the funds the Government receives from taxation and other revenue in any financial year.
2012-2013 Budget Deficit $??.?bn - pick a figure anywhere between $10bn to $35bn
2011-2012 Budget Deficit $43.7bn
2010-2011 Budget Deficit $47.7bn
2009-2010 Budget Deficit $54.8bn
2008-2009 Budget Deficit $27.1bn
Wayne Swan has presided so far over $173.3bn in total Budget Deficits.
He has also presided over $272.8bn in total Federal Gov’t debt (When John Howard left office in late 2007, the Federal Gov’t was debt free.)
Economist Milton Friedman was right: “If you put the federal government in charge of the Sahara Desert, in 5 yrs there’d be a shortage of sand.”
Special thanks to Steve Hunter for permission to reproduce his cartoons exclusively on Andy’s RANT!
Steve Hunter is a freelance cartoonist and illustrator and lives in Buderim Queensland.