Is spending forty-two billion dollars to stimulate the Australian economy a wise move or a step towards financial disaster ?
The government says " yes " - and the Opposition says " no " !
There is no clear answer because this is an economic meltdown that adheres to no known rules and what lays ahead for the men and women of the Australian workforce is yet to be determined by world events.
The government package is a mix of strategies including the revamp of all primary schools, plus a cash injection to wage earners, farmers and small business to get them spending - and keep the economy bubbling along.
The Opposition agrees that we need a spending package, but claims this forty-two billion package is just too big - and too soon !
Both sides of politics could be right - or they could be wrong - and we will not know the answer to that question until whatever happens plays out in the months ahead.
If the government is right and the package squeaks through the Senate with the help of the independents the spending surge may prevent pink slips to a big section of the workforce. Layoffs will certainly have a flow on effect of swelling the dole queues and causing mortgage defaults on a wide basis - and if that can be prevented we may avoid slipping from recession - to the dreaded " D " word - depression !
If the Opposition is right the Treasury will have fired it's guns in one glorious broadside - and be left with an empty ammunition locker. There is a limit to how much we can borrow by way of deficit spending.
The Opposition favours a smaller stimulus now to maintain the ability to further prime the pump once a clearer picture emerges of where the world economy is heading.
Two points of view will be going head to head in a vote in the nation's parliament.
Neither can be viewed as the right choice with any certainty !
Let us hope and pray that whichever prevails has the good luck to be the right choice.
The fate of twenty-two million people in this country hangs in the balance !
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