All the ways Scott Morrison has failed Australia in his first 500 days
Today Scott Morrison will celebrate 500 days as Treasurer. He has two achievements to his credit. He has staved off a credit agency downgrade. And with the help of the craven media, he has largely concealed the economy’s disastrous decline.
The last 500 days have almost certainly meant the worst fiscal deterioration relative to the rest of the world in Australia’s history. While most economies are steadily advancing, Australia is the only country in the world with
- the queasy quadrella of negative quarterly “growth” in gross domestic product (GDP)
- jobless above 5.5%
- gross debt above 33.3% of GDP and
- debt increases every year since 2012
More failure indicators
- Hours worked per person per month — the best indicator of real paid work — are now 84.9.
- Hours worked have been below 85.7 for 12 of Morrison’s 15 months, the worst outcome since 1994.
- The rate of jobless 15- to 19-year-olds clicked above 30% in December.
- That happened three times under Hockey, never during the Rudd/Gillard years and only twice during the Howard period.
ANALYSING THE PROBLEM
- Morrison has no economic expertise.
- He is a lawyer (politician) using exploding debt and rapid population growth to hide the economy’s disastrous decline.
- The Lib/Lab government failures of the last few decades are a ticking time-bomb for our economy and standard of living.
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- It is time that the myth was exploded once and for all that the LNP Coalition can manage the economy better than the other mob!
- Utter fiction, highlighted by a close analysis of ScoMo’s performance. He is all mouth and no cojones for the real work of fixing Australia’s economy!