It must all hands on deck at the ALP. Even The Kouk appears to be ready to shed his bipartisan robes and dance the apparatchik jig. From the ALP national office today comes the following email:
Dear So and so,
As someone who has been an economist for more than 25 years, including almost 13 years with global banks, I’m sick of the misinformation campaign being run by the Liberal Party and sections of the media about the Australian economy.
Let’s have a debate on the economy, for sure, but let’s make sure we stick to the facts.
This morning it continued with a beat up in the tabloid press misrepresenting Australia’s modest debt.
The fact is Australia’s net debt is dramatically lower than the net debt levels for every single major advanced economy.
Our current net debt is 10 per cent of GDP, compared to around 80 per cent for the USA and the UK, and around 35 per cent for Canada.
Labor made a choice to support local jobs during the GFC, a choice many countries around the world didn’t or couldn’t make. And as you can see on the graph below, they will be paying a very high price for many years.
Australia’s debt is so low, it has the rolled gold triple-A rating. Interest rates are low and our economy is the envy of the industrialised world.
Join the thousands of people taking a stand against misinformation who’ve already shared this graph on Facebook. Just click here or on the graph below and then share to help spread the truth. Basic indisputable facts.
Listening to the Liberal Party you’d think they hadn’t voted against the measures that kept Australia out of recession in the darkest moments of the GFC.It’s fair to say that if the Liberal Party had their way we’d have gone into recession, more Aussies would be out of work and we’d have higher debt.
Stephen Koukoulas
Let’s not make a big deal of it. After all, I agree that Australian public debt is low. I just wonder what The Kook is doing pointing it out in a Labor Party email when he’s supposed to be an independent economic commentator at BS.
