Friday, 9 July 2010

Expect to see this graph in a Labor ad

Joe Hockey still keeps hammering away at the need to curtail government spending so presumably the Opposition believes that governments having budget deficits frightens the people.
Which is why Labor should do its best to get across to voters just how much better off Australia is than most other nations in the world. This graph from the Calculated Risk website helps put things in perspective:
9-07-2010 sovereigndebt
And compared with these other developed countries the growth in Australian government debt because of the world financial crisis has been minuscule:
9-07-2010 sovereigndebtchange

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