Hey Big Spender

That's the Rudd Government for you! Australia. It's been announce that Mr Kevin Rudd is forking out $42 billion job stimulus package. All designed to keep recession at bay. ALMOST 12 million Australians will received some of the cash benefit. Wonder if this applies to me? After all I am a taxpayer here.

Under this new stimulus package:

LOW and middle-income families who received Family Tax Benefit A will next month get a "back to School" $950 bonus for each school-aged child.

FAMILIES with one main income earners receiving family Tax Benefit B will get $950.

WORKERS earning up to $80,000 will get a $950 tax bonus in April <-- That's will be me! Will let you know if I do indeed receive such a thing

THOSE on $80,000-$90,000 will received $650

THOSE on $90,000-$1000,000 will received $300

STUDENTS and apprentices on Youth Allowance, Austudy,Abstudy and Education Entry Payment will received $950.

On top of all this, The Reserve Bank has slashed interest rates to a 45-year low.

All this is done to encourage the consumer to spend spend spend. Don't keep money in your savings or pay your mortgage! Go buy a Prada Bag!

As much as it's good that the government is helping out the nation as w hole, personally I think this will make the society believe that we are indeed approaching dooms day hence be more cautious with our spending. No one in the right mind is going to spurge on silly stuff. In fact, I, myself am going to stuff this extra money (IF i get any) into my high interest (quite rubbish) and see if I can afford to buy a house.

It's not really a long term benefit if there's going to be a huge deficit in the Federal Budget.

SO what will you do with the extra money? (IF you get it!)