Wayne Swan HOCKEYPRISY REACHES NEW HEIGHTS The Commonwealth bond issues show that our debt levels are very low by international standards and there is huge demand among global investors for our bonds because of our AAA rating from all three global ratings agencies, which Labor earned for first time, through disciplined fiscal management. It again shows that Hockey says one thing to global investors - like when he goes overseas and talks up the Australian economy - but then misleads Australian voters by manufacturing a sense of crisis about our very low debt levels for political gain. In fact, in todays Australian, David Crowe has written an interesting piece. In essence he says Hockey didnt have to take the hit to the bottom line and he could have done it as an equity injection, which would not have deepened the deficit. Again, blowing Hockeys hypocrisy out of the water. It shows Hockey is, for want of a better term, full of it. Labor wont block a debt ceiling increase because we are responsible, unlike Hockey and his Tea Party cousins. The truth is he shouldnt need a $200 billion rise and if Mr Hockey is going to continue to fight for one, he needs to explain why. Hockey is continually spruiking that hed run a consistently tighter policy and now hes finding he cant do it because he mislead the public with the nature of his ambitions. He always knew - we always knew - that his cut of 12,000 public servants through natural attrition was unattainable and hes now exposed another $5 billion hole in his election costings and surprise surprise, he continues to blame Labor for it. Hockey has further cemented his hypocrisy today releasing a statement about the OECDs latest economic outlook which forecasts Australia will record a solid economic performance over the next two years. Well which one is it?! Are we in the midst of an economic meltdown or are we the envy of the world?
Posted on: Wed, 20 Nov 2013 02:31:22 +0000
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