Thanks for that reference and to quote from the article; "... There was also some confusion from Abbott was when he said, “the current government has turned $50 billion in the bank into debt spiralling towards $400 billion that our children and grandchildren will struggle to repay”.
The first point to note is that the “$50 billion in the bank” was in fact $44.8 billion in net financial assets that were in place in June 2008. It is a $5 billion error to start with.
Abbott’s reference to “debt spiraling towards $400 billion” contains an error of a further $30 billion. The PEFO confirms debt will peak at $370 billion. Perhaps more mischievous is Abbott starting the sentence with a reference to net debt and then comparing it to gross debt. Abbott did not mention that when the Howard government left office, gross government debt was $47 billion. Nor did he mention that net debt in June 2013 was $162 billion. ..."
Tony Abbott has made an artfrom out of exaggerating, misrepresenting and even denying real data.
This is a classic example of how he has abused a range of economic indicators to suit his self-serving political ends. Harking back to his romanticised views of the Howard era with erroneous mantras of our most profligate government in history is another example of Abbott's mischievous behaviour.
With polls pointing to a Coalition victory on September 7 Abbott is like a drooling, howling, rabid attack dog. Burt Lancaster's portrayal of a snake-oil salesman is one Abbott now wears as his trademark.
