We need to limit
reckless spending and as I've said all along (a point which Trefoil concurred with), we need to spend more on long term projects such as infrastructure.
In the end, I think government interference here should be kept minimal.
Instead of trying to stimulate through cash-handouts to one group of Australians, the government should make an even greater effort to create new jobs in the public sector for those growing number of unemployed Australians. These jobs could be infrastructure projects which have already been scheduled (i.e. we could move the scheduling forwards.)
There are plenty of alternatives. What we need is a group of people willing to do what's best in both the long and short-term; with limited vested interest in the outcome.
What we have, is a group of intellectuals who see this crisis as an opportunity to further their political careers and redefine Australian politics and economics. Kevin Rudd has been using fear to turn public opinion against the rich, labelling them greedy,'extreme capitalists'. It seems that wealthy Australians are Labor's latest scapegoats.
What's more though, this redefining of Australian public thinking; through primarily scare-mongering and comparisons with the Great Depression (during which time hardships were much much greater than they are today due, mostly, to poor living standards) is very worrying. 'Extreme capitalism'? Radical captalists? These platitudes mark Kevin Rudd's latest attempt to change Australia, and unfortunately, I fear, not for the better.