kevin rudds attack on john howard, page-36

Exactly right Fatso

People were happy to buy plasma TV, investments, holidays, cars on credit because credit was so cheap. If it wasn't the case they would have demanded to pay less tax.

If people's materials desires had not been met by excessive credit then they would have been very angry to see the government run up such a surplus at their expense.

So was easy to transfer debt from public to private.

However when inflation started to raise its uly head tax cuts became a headache due their ability to be inflationary.

So not sure how they can be called great economic managers..though they were not that bad either...just not as great as they pretended to be.