JobKeeper bill has been slashed, but what can we do with the extra cash?

The bill for the Government's economic rescue package has been cut, dramatically, thanks to a $60 billion miscalculation revealed last week.

But at the same time, the activities of its debt agency, which is raising the cash to pay for it, haven't skipped a beat. Indeed, the AOFM made an update to its bond buying plans the same day Treasury released news of the JobKeeper stuff up. They were to carry on as normal. With the AOFM raising $5 billion every week, it'll only take a couple of months before the Government's entire economic rescue package, as it's been defined so far, has been funded.Forecasting, as Treasury has discovered, is a tricky business now, to put it mildly.

Save for emergency when relapse of outbreak occurs. Use the interest to seed wave of innovation into poorer scenarios. What if the bio testing labs personnel were wiped out. New automated test machines to protect them for mass testing scenarios. Faster, better, cheaper. Free them

People in the arts sector deserve some help and now the Government can do it

PROPER ANALYSIS - There is NO $60B to spend! It's funds that we now don't need to BORROW!

There should be more savings as not everyone receiving Jobkeeper were earning 1500 a fortnight before its roll out.

Don’t get me started on that other oxygen thief, Penny Wong. She should shove a sock down her throat and give herself a backhand!

Certainly NOT spend it on the waste of space and oxygen thieves at the ABC!

Extra cash? Here no cash. No cash here . It’s not from a kitty, It’s borrowed money.

So many comments staying that this just reduces the debt. If these people had read the story they would know it says the money is going to be borrowed anyway. This gov is not going to borrow 60b less now that the estimates have changed.

Creative accounting ABC

What about we give all the little commies at their abc a massive pay rise 🤩🤩🤩. How good would that be eh 😂

The abc just failed Economics101 as our PM says

Hold on we don't have that money, Australia would have to borrow that extra money and pay it back with interest.

There is no extra cash, its just less debt. A good outcome all round, although I’ve no doubt if they had spent the extra $60bn the ABC would be criticising the govt for hamstringing future generations with debt canthaveitbothways

What extra cash? Economics not your strong suite ha?

Nothing! Borrowed money!!

There is no 'extra cash'. If your car unexpectedly breaks down and the mechanic says it's going to cost $4,000 to fix and it only ends up costing $3,000, you don't have $1,000 'extra cash' to spend. You have $3,000 'less cash' to spend. 🙄

Uhm....we don’t actually have this cash🤔maybe we just shouldn’t spend it

Most of these commenters clearly don't understand the point of 'economic stimulus.' It's $60B that we don't have to pay back later, but it's also $60B not being spent at Australian businesses when they need it to survive.

Buy a bigger doona.

Arts. The Australian arts industry employs more people, and brings in more dollars, than the mining industry.

Will keep it to fund their next election

IT IS NOT 'EXTRA CASH' FOR THE TEN MILLIONTH TIME.

Get the fire victims housed with plumbing fir fucks sake

These leftys don't understand do they. 'Extra Cash' MORONS

Its not extra cash, its money tax payers have to payback. Naturally to the leftys at ABC on inflated tax payer salaries they dont get this. Just wow

Hopefully it doesn't go to you communists.

I mean not chose to nominate their employer if they also have a PAYE INCOME STREAM

How about start giving it to the sole traders that do pay their taxes and chose not to nominate another employer. You know the people that have multiple income streams

'Extra Cash'........ SNORT.

Put it back until needed

Not having to borrow an additional $60b doesn’t mean we have extra cash.

What an idiotic comment from ABC? Is this coming from chairperson Ita? It is all borrowed money, creating immense debt for our kids and grandchildren. Is there any sensible person in ABC who can understand the implications of huge debt? Go to school Ita. Teach your staff!

IT'S🖕 NOT 🖕 CASH.

'Extra cash' Do you have idiots writing articles?

David Taylor calls himself a business reporter, but I’m tipping he has no experience with business and finance whatsoever which make him the ideal “journalist” for the left-wing rag known as the ABC.

Again, keep your view to yourself. The very terminology you use betrays you: 'slashed' is emotive and designed to emotionally manipulate. TheirABC sucks.

NOTHING, it's not extra!!

There is no “extra cash”. Extra cash would be available if we slashed the ABC budget

Give it to the ABC.

It’s not cash it’s all borrowed money....

No doubt it will be used to chase down and harass anyone who makes a single mistake while on jobseeker.

Well they did a great job with $100 million Before the last election so guess what they can do with $60 Billion Before the next election

Which ABC news editor wrote this ridiculous headline? 'Extra cash' ... seriously.

It's not extra cash, we had to borrow those $Billions. Now we don't have to borrow an extra $60Billion!

We could spend it on basic finance education for . Maybe then you'd know that debt isn't earned money.

Spend on infrastructure.

It’It’

Hold on, we may need those borrowings yet for the intended purpose. What awaits us after September is unclear.

No extra cash. Was going to be borrowed money! Covid_19australia JobKeeper

Perhaps they could reverse the completely arbitrary decision that anyone who switched jobs in the past 12 months was not a job worth saving!?

Looks to me like another article provided to the alpbc for publishing by AlboMP and AustralianLabor

The use of the words “extra cash” is so wrong in this context that it actually is a breach of the charter to be accurate.

Keep the Jobseeker rate as is. Nobody can live on $40 a day; nobody should be forced to.

Use it to support the casuals, migrant workers, arts and entertainment sector and other folks they've left in poverty! noworkerleftbehind

Marginal seats

Proposed figure included all casuals employed for +12months. This changed. Any 16-17 yr old casual that is a full time student has been cut. How many high school students had a casual job in hospitality or retail?

Stop giving it to the derro’s

Our corrupt government will do nothing as per usual......

remember the people who sing songs that you love? remember the people who create pictures on your walls to make your home/office less bleak? remember those people who create movies and tv shows that keep you sane and help you relax? No? Let’s see how you do without it all!!!

There is no extra cash? They glare borrowing the money. So it just means it’s 60bn we don’t have to borrow and has a nation pay back in taxes. Happy days

Certainly not give any to the ABC and their socialist labor cronies. Good problem to have when the dust settles.

Extra cash Unbelievable, ABC continues it’s descent into idiocy.

Leave the “extra cash” in the bank.

A couple of new coal fired power stations

Rescue package for higher education

Let's give it to the ABC. Actually on second thought, let's not.

really stroking hard on the old pinealius clitorius, OMG

There is no $60b sitting around waiting to be spent. Just $60b less borrowing. So we are saving (at 2.5% pa) $1.5b a year in interest by not borrowing it. That is not hard to understand, is it?

'... what can we do with the extra debt...' Fixed it for ya.

There is no extra cash.

Given the current diplomatic spats with China and the US, best it we put that money into the military budget, we're going to need it.

I feel sad for our country when it has at an incompetent treasurer who lacks the intelligence to formulate financial matters.

You can probably get a few more rhymes out of that - Bill's been slashed The economy crashed There's extra cash But where's the stash?

If JobKeeper gets extended, then so must jobseeker. + 3 months $30 billion per programme. Maybe $10,000 per adult as a one-off cash payment instead. A superannuation withdrawal rebate.(dollar for dollar replacement.)

Nothing. We don't have the money only stupid ALP fools think its actual money we have to spend, they cant get it through their tiny brains that to spend it we have to borrow it and pay it back with interest and that means Australian taxpayers carry the burden.

Don't spend it

The ABC has excelled itself on this one, conjuring a problem where none exists.

No it’s borrowed money 💰

Tax cuts 4 the big end of town, mining maybe

We don’t have extra cash! It means we don’t have extra debt! 🤦

You can always trust an organisation that survives purely on the public purse to view a surprise reduction in debt exposure as “extra cash”. Keep sucking at that public teat .

There is no extra cash. It's debt

Print it out in fives, press and glue it into clubs, and beat those incompetent morons in the Liberal party within an inch of their lives. Tell them we’ll be back for that last inch if they fuck up again. $60 billion well spent.

I'm guessing all those crying 'It's borrowed money, spending it now will saddle future generations with debt' have never had a mortgage?

Drivel

It’s not extra cash, ffs these headlines must be written by children.

We don't have to spend it easy for the tax payer funded ABC to advocate adding just a mere $60 billion to our debt

You idiots. Again with this line. The money doesn’t exist! It was to be borrowed. Again we see the Left have zero regard for money and zero regard for the economy, the Left are comfortably the greatest risk/threat to this nation (any nation)

Ours not extra cash

It’s not extra cash. This is debt we, our children and grand children have to pay back. Don’t spend it. Pay down the country’s debt

Give the “extra” cash to the ABC so that they can learn about accounting.

Poor uneducated ABC 'journalists'. Was your comment just to get noticed?

Morrison Govt admits a $60 BILLION ‘reporting error’ in JobKeeper! The same Morrison who says only the Libs can be trusted to manage Australia's finances? I smell Murdoch media protection on its way! TheDrum CoronaCrisis qanda Channel10AU JobKeeper ScottyfromMarketing

There is no extra cash! Get it right.

It's Borrowed Money......NOT EXTRA CASH.......That your grand kids will be paying for......

Typical ABC....you always have the hand out & wouldn’t survive without tax payer funds. MONEY HAS BEEN BORROWED.

Get the states to get rid of stamp duty. Provide a grant to allow people to build new homes (not investment houses).

Maybe not burden future generations? Not an argument for accepting the totally lame excuse for it happening. The $130 billion was claimed before forms were created!

Give it to mining companies or Rupert Murdoch? Angus Taylor’s family maybe?

its not extra cash, its potential debt which we now do not have to have. A world of difference there

Leave it, trust the ABC to back labor and actually spend it, what's wrong with you lot its a good thing that we don't have to borrow $60 billion more, this is good for our future generation's, wake up to yourselves ABC.

the $60bils was the money we'd have to borrow Now we dont need d extra $60bils so taxpayers dont need to be burdened with future debts Let it lapse

The cash is borrowed. You know what that means . We pay interest on it. Don’t spend anymore and don’t borrow anymore.

It’s not cash! It’s just debt that we don’t have.

'I budgeted $13,000 to repair 2 out of 4 damaged rooms in my house after a disaster. After repairing the 2 rooms, I realised I actually had $6,000 left. Instead of finishing the job and fixing the remaining 2 rooms, I decided to brag to my mates about how great I am with money.'

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