Balancing the budget is important. I’m not an economist but it makes sense. On a micro level, if my own household cannot balance its books it would sink. Here’s the problem, though. The median income in Australia is around 58k (the average income is skewed to approximately 75k because of the hefty salaries earned by Australia’s wealthiest citizens). The population is growing – it’s incorrect to think that if the economy (under its current model) grows the whole country benefits. The reality is that the median wage is not rising anywhere near as fast as the cost of living, as prices are increased to grow profit.
For example: the cost to use the trains in Brisbane has risen by at least 22.5 per cent in the last 2 years. Power has risen by over 20 percent too. Petrol will likely rise more than it normally would in light of the new federal budget, and do not dismiss the effect $7.00 per person per visit to the doctors will have on a family budget that is already squeezed tight.
I’ve seen no evidence from either of Australia’s two major political parties to suggest they can solve the real problem, which I have already outlined on an emotional level in a previous blog.
There’s a lot to be grateful for in Australia. It’s a beautiful democratic country alive with culture and brimming with talent. Pure socialism works in a kibbutz, but not at a national level where large administrations sick with self-preservation and greed suck up money and resources that should be for the people. Nobody wants to experience communism. Some bright spark – someone a lot smarter than me – needs to create a new sustainable evolutionary economic model that encourages entrepreneurial talent and yet does not forget the median, or the needy. I believe we need to change our perception of ‘reward’ and truly transform (at an emotional level) how we perceive ‘status’, while not losing some of the core values, like freedom of choice, that underpin our society.
Jonathan K Benton