nemesis's Journal

The buck stops with me; Except..

Friday 1st February, 2008

The Australian Labor Party's platform for their election win was punctuated with Kevin Rudd saying "The buck stops with me". Wayne Swan, the now-Federal Treasurer clearly doesn't share Kevin's policy.

For the last few months, Wayne has continually been blaming the last government for inflation. He just doesn't give up. Whether it's a "present from the previous government", or "the previous government's legacy" -- it's basically the same story. Wayne just can't handle it.



Recent data from the Reserve Bank of Australia shows that inflation is currently well above their 3.0% target. And that's even with the big four banks raising their interest rates "out of turn" from the RBA.

It's time to pull your socks up, Wayne. First you say that the economic prosperity over the last 10 years has been Keating's legacy. Now you blame the Howard Government for your inflationary problems. Stop the blame game, and show us the buck really does stop with Kevin.

3 Responses

Dave
04th February 2008

I'm not seeing a problem. Inflation didn't just surge following Labor being elected, it's been growing for some time. So in that sense it is a legacy of the previous government.

And they are doing something about it - pretty much every day Kevin Rudd or Wayne Swan talk about the "pain" (or as Rudd says, "screams and squeals") to come from the next budget, when they withhold an extra $4bn for a surplus.

nemesis
08th February 2008

Two things:
A budget surplus belongs to the people. If you can run a government more efficiently, you shouldn't be hoarding money you've taken from the people.

And secondly, Wayne (and Krudd) are running a scare campaign about inflation. You never heard the Liberals complain about growth and the inflation that accompanies it.

But regardless of who you place the blame with, Costello/Howard's mantra of "interest rates will always be higher under Labor" appears to be holding true...

Dave
10th February 2008

And conveniently unverifiable grin2.gif

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