Trevor Cook argues that a lazy legacy of spin, underinvestment and
middle-class welfare leaves a tough job for whichever side wins.
"Both
sides of federal politics know, unequivocally know, that the federal
budget surplus should be much bigger to take pressure off interest
rates and to prevent the economy overheating and then falling into
recession. John Howard has been particularly culpable. He spent
billions buying re-election in 2004 and he, and his uninspired
Treasurer Peter Costello, have been pumping a raging economy with tax
cuts ever since." More…
