Is the Current ALP government really wasteful?

I’ve downloaded a copy of Tony Abbott’s “Real Solutions” to critique, as I did with his Direct Action Plan and the proposed dam plan.

My initial cursory look over the booklet found a blatant attempt to hide the decline, through an inappropriate comparison of the current government’s record with work days lost against the previous Liberal government. Placed into context, the ALP haven’t done too bad without stripping worker rights, as my info-graph showed.

With that in mind, I have since become increasingly weary of the validity of the graphs throughout the booklet – Abbott’s team seem to think we’re idiots and will not look at the actual sources.

One source that I was led to was the Mid-Year Economic and Fiscal Outlook 2012-13 (MYEFO), which is referred to time and time again.

Every Aussie who has been anywhere apart from under a rock must now be familiar with the negative commentary provided ad nauseum by the Coalition on the ALP, especially on economic matters such as spending.

Looking at the MYEFO, I was surprised to learn that when reviewing this source for the “Real Solutions” booklet, Abbott’s team missed the opposite message throughout. For instance, on page four, Australia’s GDP has remained persistently above other advanced economies, such as the US, Europe, the UK and Japan post Global Financial Crisis.

gdp

Australian debt, as a percentage of GDP is a fraction of the size of any of these other economies (page 12).

debt1

It’s like the Global Financial Crisis and other economic factors in the northern hemisphere (think of the combined troubles of the EU, for instance) hit like a tsunami that, by the time it found us, was barely a ripple.

Being an advance economy intrinsically means we were not immune to these, however we have avoided the worst of it, even with all the hung political nonsense and drama over recent years. And this is supposed to be economic mismanagement?

In my book, that’s a success story, not what the negative spin doctors of the Coalition harp on about wherever they find a microphone.

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