Something that you never hear, until now, is the fact that almost half of the $96 billion of debt was sourced from the Fraser Government, which in its last few years had Mr Howard as Treasurer.
When John Howard was Treasurer, net Government debt rose at a steady pace, hitting 7.5% of GDP when Fraser lost the 1983 election. In 1996 dollar terms, 7.5% of GDP is around $40 billion which is in fact the real level of net government debt “inherited” by the Hawke Government when it won the 1983 election. Not to mention 10% unemployment & 11% inflation.
http://www.marketeconomics.com.au/2024-labor-or-liberal-government-debt
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Voltaire: “Those Who Can Make You Believe Absurdities, Can Make You Commit Atrocities” .
