THE era of Kevin, interrupted by the Julia interlude, has been a roller-coaster ride. Having promised Howard-lite and fiscal conservatism, the excuse of the global financial crisis unleashed a period of rapid growth in government spending, successive budget deficits and mounting public debt under Kevin Rudd’s guidance.
Now, with Rudd’s return, Labor has launched a charm offensive that seeks to whitewash the past: it is as if aliens from Mars, fortunately departed, had been in charge.
Now that Miss Gillard has gone back to Mars it’s worth looking at the Rudd record …
…in the 935 days between becoming prime minister on December 3, 2007, and Julia Gillard’s coup of June 24, 2010, Rudd left Australians with at least $153 billion in unfunded fiscal burdens while wasting $100 billion of the community’s resources….
Labor has now achieved a net debt of $161.6bn. The May budget forecast an $18 billion deficit for this year and just a short time later it has had to be revised to $30 billion.