Thursday, 21 May 2009

Judging the government

That Governments are judged by what happens not by what someone says will or might happen seems to have escaped this Opposition. The whole current attack on Labor and its Budget is based on an assertion that the assumptions underlying forecasts of future Budget deficits are far too optimistic. Well forecasts by economists about what will happen years ahead are invariably wrong but experience tells us they are just as likely to be too pessimistic as too optimistic. As to the general public, I doubt that the vast majority of voters have a clue what the politicians are talking about nor any desire to find out. What will be will be and it is the reality come election day which will determine whether the government is thrown out or not. Currently the Owl's Australian Election Indicator puts the chances of a Labor victory at 63% with the Coalition at 37%.

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