I really don’t believe what I’m hearing about the looming Federal Budget on the Aussie national media! I wrote a post called Do you need a financial planner or guru? when I first started this blog commenting on the commissions and fees paid to financial planners. That now seems of little consequence to some people.
The vulnerable will suffer.
The Australian government proposes to introduce in it’s latest federal budget a set of measures that will be very detrimental to the most vulnerable. People that are on unemployment benefits, aged pensioners and other people on low incomes will be hit the hardest. There is even talk of lowering the basic wage from $622.20 to $488.90! How anyone could survive on $488.90 is beyond even contemplating.
Although humans are smart enough to build a spacecraft to land a person on the moon we are also stupid enough to create endless wars and incompetently run a Federal Budget and economy.
Do they really expect us to believe that all of a sudden things have become grim enough that we all have to suffer for their incompetence?
Do politicians have a long term view?
I heard economist Chris Richardson this week saying economic structural reform was well overdue in Australia. The problem is that neither side of politics has a long-term view. I said in a recent post Start saving now! that anyone with a long term view and the will to save money can succeed. The trouble is governments don’t seem to have a long term view which makes it even more important for us to go our own way and try and save for our futures. I’m not trying to be party political in my comments. I think both sides of politics in Australia are failing us and it’s not only here. Overseas, even worse examples are Spain and Greece where the governments for various reasons have nearly bankrupted their entire countries. How can that happen!! The easy answer is bad planning or no planning. Each country went on a spending or speculating frenzy and when the music stopped there were no chairs left to sit on. Who do the politicians blame when everything goes pear shaped? Everyone and everything but themselves.
The answer I think is to mind your own business, get on with trying to save some money and worry little about outside influences.