Budget deficit to soar, growth to slow

The federal government says today's $42 billion stimulus package will add to gross domestic product growth but the budget will enter into a $22.5 billion deficit this financial year.


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While I applaud the idea of a stimulus package, I detest the way the Government is to hand out $12 billion in cash (up to $950 per eligible person?). Add to this the $8 billion given out before Christmas, that's $20 billion that will go up in smoke. Its short term pump-priming that will have no lasting benefit - and worst of all it pushes our budget surplus in to massive deficit that we will have to pay back in the future. That money would be better spent on nation building infrastructure like roads, ports, hospitals, housing and renewable energy. That will provide jobs and lasting benefit for our nation. Where is the visionary leadership required to pull Australia through a challenging global economic period?

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