For 9 years the Lib Govt managed to increase deficits and debt from the first year to the last of Morrison's term. this despite winning govt on the alarmist campaign of "debt and deficit disaster" - a great alliterative meme - and the praise to achieve surplus after surplus and significant debt reduction.
the LibNat govts faced no economic headwinds until covid struck so they had 5 years where budget repair could have yielded surpluses, yet they continued to spruik their economic credentials as if they were achieving surpluses. I s'pose they assumed that the news media would fail to inform us all of their lies. and sure enough the news.con mob certainly did fail in their duty to inform impartially. they aided the govt in concealment of the facts.
Contrast this with the latest budget disclosures.Federal Treasurer Jim Chalmers says there will be no 'big cash splashes' in the May budget, warning a decline in iron ore prices and a softening labour market will impact the bottom line.
And he says much of the budget's biggest features have already been announced — including the revamped stage three tax cuts, superannuation on paid parental leave and funding for remote housing in the NT.
In an address to the Committee for Economic Development of Australia, the treasurer outlined the government's economic strategy with revenue upgrades to be smaller than originally expected.
ABC LINK.
and the management of fiscal arrangements in concert with the RBA has been comparatively open and exposing the current govt mob to adverse commentary, whereas the previous 3 govt terms denied and concealed their failings as much as they could manage.
Last budget revealed a surplus.... and this while making significant payments to reduce the federal govt debt.
all the promises and manoeuvring cannot conceal reality. I suggest we try to avoid our biases through awareness of our loyalties and cancelling such subjective preferences, and focus on actual facts.
I'm hoping that right wing loyalists will disprove my thesis and provide actual facts.
