Who's responsible for Australia's 'debt crisis'?

Economic management, and the question of who's better at it, will be a deciding factor on September 7. Tony Abbott argues debt created under Labor is a sign of poor stewardship. Time to look at the figures.

Another election is on in Australia, and the topic du jour – the political topic du century it seems – is that, horror of horrors, the government’s budget next year will be in deficit to the tune of $30 billion! It’s a scandal! Our debt is ballooning! And it’s all Labor’s fault! Why, all you have to do is look at the responsible Howard period – falling debt – and compare it to the irresponsible Labor period – rising debt – and you know who to vote for, don’t you?

Figure 1: From the responsible Howard to the irresponsible Rudd?

Graph for Who's responsible for Australia's 'debt crisis'?



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