So the facts dont suit, so we'll make some sweeping generalisation and try to sweep those pesky facts under the carpet. WA anyone.
Aahh yes the old Coalition better economic managers mythIt would be a myth if it wasn't for the fact that at change over of govt at both Fed and state level, the ALP has a history of debt. As a result the respective LNP govts around the country have a history of cost cutting and budget cuts to again stop the cycle of using other peoples money.
Debt doubled but I really like this one
It's easy to be a Neoliberal, until you run out of other peoples assets to sell.
Now before you start, not every ALP govt, but unfortunately most of them.
What facts, your link was to a Twitter page and those graphs are selective. As soon as someone quotes a link to social media = zero credibility, you are up there with Trump!
As I said, go through the last 30-40 years. Look at the state of the budget for any state and fed govt when changing parties in govt. It will clearly show you in most cases the ALP leave govt with usually a deficit and debt, on the other hand the LNP typically leave govt with a balanced budget and less or no debt.
Don't believe me, look up the facts in the various state and fed budgets.
A few examples supporting my statement
- Keating govt
- Rudd govt
- Whitlam govt
At state level
- NSW Wran govt, $40B in debt (1988 dollars)
- NSW ALP govt in 2011
- Vic Kane govt, $60B in debt (1988 dollars)
- Qld Bligh Govt, $80B in debt, current ALP govt is not repaying debt and now borrowing more.
There are probably others in WA and SA but I don't follow them enough.
A few examples of reverse
- Tas Grey Lib govt left state nearly bankrupt
- Tas Green/ALP govt that followed came close to a balanced budget budget in a recession, but laid off 5000 public servants which is why Greens crashed the govt, so many teachers and nurses sent home.
Any supporter of any side can claim what ever they like about our good their team is, but at the end of the day if you cannot live within your means, then you cannot manage the economy in a sustainable manner. Yes its ok to borrow money during a downturn to stimulate the economy, but this must be done in such a way that the budget is returned to balance within a reasonable period of time.
The current forecasts are that it will take until at least 2030 for the Feds to pay off the debt generated over last 10 years. So for 12 years over $40B a year extra must be raised in taxes to fund debt repayment. This does not factor in any future downturn in the economy. This is akin to using one credit card to pay off another.
If Qld was debt free, it could fund the CRR project itself with less than 2 years of debt repayments.
IF Vic was debt free, it would have the revenues to fund the Metro project as its built
If the Feds were debt free, they could fund the Inland project in less than a year
We talk about foreign owned companies sending profits OS, govt interest payments are no different.
So yes, the facts stand for themselves.