Julia Gillard to take over from Jeff Kennett, page-49

Yes, the fiscal nitwit, Witless Whitlam, threw our money around like confetti; here there and everywhere. Well that's what the self proclaimed, self adulating, progressives like, isn't it?

And who can forget his attempt to obtain funny money from the ME, from The Age :

How the loans scandal became an affair to remember

January 1, 2005
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Gough Whitlam, second from right, in 1974 with cabinet members, from left, Rex Connor, Clyde Cameron, Jim Cairns and Lionel Murphy. The tumultuous political events involving them that year were topped only by the 1975 dismissal crisis.

Treasury papers allow the most detailed look yet at the Whitlam government's attempt to borrow $4bn through a shady businessman, writes David Wroe.

'Lord forgive them, for they know not what they do," muttered Treasury head Sir Frederick Wheeler as he wrapped up another exhausting meeting. "Amen," agreed his colleague, Alan Bailey.

It was Monday, December 16, 1974. Two days earlier, prime minister Gough Whitlam and three of his senior ministers had agreed to borrow $4 billion from unidentified Arab oil sheiks through a shady businessman.

Wheeler and his "Treasury boys" were on a mission to protect the Whitlam government from itself and, in the process, protect Australia's finances and global reputation.

They half succeeded. Australia's reputation survived; the government did not.'