mr rudd economic disaster, page-6

JD, it is all well and good for the libs to get on their high horse about getting rid of govt debt and continually slagging off the "Banana Republic" Labor party. But in reality all the libs have done is shifted govt debt to household debt by way of CGT revenues from artificially inflated house and share prices.

If you want a truer picture I suggest you look at foreign debt. From memory the "Banana Republic" govt took us to foreign debt of 40% of GDP and the libs took it close to 60% by the time they left office. I believe the libs biggest achievement was in fact getting the country into so much debt at the same time China was handing us so much money, and convincing voters they were doing a grand job.

Unfortunately, this KRudd govt isn't any better but with the drop in CGT and company tax revenues and having to protect our inept and irresponsible banks, KRrudd is really pushing it up hill no matter what he does.