Sathius005
Active Member
- Joined
- Jan 13, 2007
- Messages
- 716
- Gender
- Undisclosed
- HSC
- 2008
- Uni Grad
- 2018
Wayne Swan in the 2013 federal budget said that Labor will pay off net federal government debt by 2021. Peter Costello said that the federal government most likely pay off net federal government debt by 2033 (20 years from now). Peter Costello is one of Australia's greatest federal Treasurer in Australian political history. Peter Costello says that the best case scenario is net federal government being payed off in ten years time i.e. in 2023. Costello extrapolated the fragility in the international economy as the key reason why paying down net federal government debt could take two decades. Peter Costello admitted that Labor was doing a strong job in economic management during the most challenging economic circumstances since the Great Depression. Costello also admitted that he had underestimated the Global Financial Crisis in 2007 when he was Treasurer. Most likely if Peter Costello had been Treasurer in 2008/2009 Australia would be in recession. John Howard said that "the Australian people always get it right" when it comes to the federal election, hinting that he deserved to lose the 2007 federal election. I conclude by saying that the Labor party is the best party to be in government during this time of economic crisis in the international economy. Vote Labor.
