Helen Cust, Ballina
What a turnaround from the pre-election hyperbole peddled by the marketing guru-cum-Prime Minister (Morrison) and his struggling Treasurer (Frydenberg)!
‘Back in the Black’ mugs were being rolled out to commemorate ‘a return to surplus, guaranteed, no matter what’. That worked out well didn’t it? We’re now deep in Morrison’s debt and recession, the largest deficit ($85.3 billion) in Australia’s history, and almost $1 trillion of national debt.
It would be tempting to simply say, ‘Well the world has been hit with a pandemic and every country is in the same position’. However, that is definitely not what the Liberal-National coalition said when Kevin Rudd’s government was suddenly hit with the Global Financial Crisis (GFC) and was also forced to plunge the country into debt in order to stimulate the economy. Aided by their stooges in the Murdoch media the Lib-Nats waged a relentless campaign of misinformation and outright lies to discredit the Rudd government.
However, with great fiscal management from then Treasurer, Wayne Swann, and Finance Minister, Lindsay Tanner, Australia managed to avoid a damaging recession.
What gross opportunism from such an incompetent coalition, that in the ensuing years they have managed to more than triple Labor’s GFC debt, and plunge Australia into a damaging recession; Morrison’s recession.