Australia hands people cash to splurge for Christmas

[depakid]

Source: Guardian UK

CANBERRA, Dec 8 (Reuters) - The Australian government delivered more than A$8 billion ($5.2 billion) in cash payments to families and pensioners from Monday to stop the economy from sliding into recession and urged people to spend the money ahead of Christmas.
The cash is part of a A$10.4 billion economic stimulus package announced on Oct. 14 and aimed at boosting consumer confidence and retail sales as Australia fights off slowing growth and rising unemployment due to the global downturn.

But rather than pay off debt, the government wants people to spend the money in the run up to Christmas, saying the spending will help protect jobs and save the economy from further slowing. "I've urged pensioners and families to spend this money responsibly, to use this money to make ends meet, to help out their kids and help out their grandkids," Prime Minister Kevin Rudd said on Monday.
"If the government doesn't empower consumers at a time like this, in the midst of global financial crisis, then in fact we will have even greater challenges ahead."

The payments come after official data showed Australia's economic growth slowed to 0.1 percent in the September quarter, its slowest pace in 8 years, and with unemployment set to rise due to the fallout from global slowdown. The cash payments worth A$8.7 billion, or about 0.9 percent of gross domestic product, give 2 million families A$1,000 for each child, and give four million pensioners more than A$1,000 each. The money will be paid directly into bank accounts over two weeks.

Treasurer Wayne Swan said the payments would boost gross domestic product by between 0.5 and 1 percent, and create up to 75,000 jobs.
"This package is a substantial boost to our economy," Swan said, adding the government would keep all options open if further action was needed in 2009 to keep the economy growing.

Read more: http://www.guardian.co.uk/business/feedarticle/8128809

[Newsjock]

1. Money only if you have kids -- poo on that idea

If I read the story correctly, the payments were only to families with children or "pensioners" -- thus effectively excluding nearly all single people under age 65.

Sorry, but if the government is going to "help" us, we all deserve help, not just the people who have felt the desire or need to procreate.

[depakid]

2. Pensioners in Australia include those on disability or who otherwise receive some form of aid

it's not limited to "old age" by any means. Veterans or their widows, for example, also receive the payments-

[Odin2005]

12. Haven't you heard, all us folks who don't want kids are evil and selfish, haven you got the memo?

I hate that kind of shit :puke:

I know I'll be flamed for saying this, but I think the child tax credit should be abolished. Governments should not be encouraging people to have kids when our planet is so over-populated. I can't stand this pathetic attitude held that parents (like that Dugger family) have a right to pop out as many kids as possible. ;eyes:

[queenjane]

13. Finally! Someone else agrees with me

I've been advocating revoking the child tax credit for years! Or at the very least, instead of giving the credit to the parents, redirect it to the kid's school, instead of raising property taxes on people with no children or the elderly on fixed incomes.

I swear, it's like breeding is the most sacrosanct Sacred Cow on earth.

[northernlights]

14. you won't get flamed by me

I remember 25 or so years ago when some arrogant little 30-something snot walked up to me at work and screamed, "Any woman over 30 who isn't married with kids is SELFISH, if you ask me!"
Well, nobody asked you, ya little snotnose bitch, whoever the hell you were.

And then there was all the overtime I was forced to work because the married mom sitting nearby had to leave early to pick her kids up from daycare. But that didn't stop them from giving her a bigger raise than me, because she had a family to support so she needed it. I remember overhearing one manager laugh to another that single were perfect for some of the shit extra work and forced travel assignments because they "don't have lives, anyway."

But there is the 'merkin attitude in a nutshell. Never mind the fact that some of us can't have kids. Never mind the fact that some of us get bogged down by sick parents. Never mind the fact that there are more women than men in the population, before you add in threat Vietnam war killed 50,000 and destroyed over 300,000 mostly male lives. Never mind the fact the some of us believe the world is overpopulated and really doesn't need more humans.

And don't forget that silly freeper who assumed us librul wymmins are intimidated by Palin's fertility. :eyes:

[Odin2005]

15. And I've noticed that it's usually women that get criticized, not us guys.

So there is definitely sexism involved from people who think a women's duty to society is to be barefoot and pregnant. :eyes:

[grasswire]

3. is there a downside to this?

If not, why be so stingy? Why not $5000 for every man and every woman?

[dipsydoodle]

9. The only downside,

if that's what you want to call it, is that the money must be spent - not saved. My sister is in Perth WA and she explained it to me when she was here in the UK a couple of months back. If the money was saved or used to pay off debt the whole exercise would be self defeating and hence a complete waste.

I think the Australian government has done what it can afford to do - they are not in a position to print fiat money
as the USA does.

[Greyhound]

10. The Australian Dollar is fiat just as ours and pretty much everybody else's.

No major nation's currency is backed by assets any longer.

But hey, $400 per person is a nice shot in the arm, I hope it works.

[dipsydoodle]

11. They can't do it

on the back of petrodollar recycling - the USA is unique in that respect at least for the time being. But yes , as you say its a nice shot in the arm and I don't undertstand the critisism elsewhere here that it only applies to children and those retired whatever.

[aviationpm]

4. Imagine what $700 billion could have done...

if we gave it to the people instead of banks to hoard.

[Politicalboi]

5. And the Trillions

Spent on this illegal war.

[sandnsea]

6. $2 trillion would give $10,000

to 200 million households. They're project they'll need to spend $7 trillion, at least, to fix this bad debt problem. Give the households the money and tell them to pay off their debt. That should help enormously.

[closeupready]

8. Absolutely. Think about it people. What stops most of us from spending is current debt load.

Help us free that up and we'd be out spending again.

[Ecumenist]

7. Why does this sound familiar?

Are the b*shes moving the Oz?