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Sunday, August 29, 2004

Howard Campaign Lie #1 - Interest Rates

In a semi regular feature, I hope to highlight the Howard bullshit machine.

To quote Howard from AM this morning:

CATHERINE MCGRATH: Now, you said just then it's a mistake to draw slavishly on historic comparisons, but isn't that what you're doing when you say that interest rates are higher, historically under Labor Governments?
JOHN HOWARD: It's a fact...
CATHERINE MCGRATH:..aren't you drawing there on historic comparisons?
JOHN HOWARD: No, the point I am making... you're drawing a political comparison, because situations are different. And the reality is that Labor Governments over the last 30 years have always delivered higher interest rates.

Well lets look at the fact (from Economagic.com):

Red = Labor government, blue = liberal.  So there you have it.  The 24 carat fact is that in the last 30 years, interest rates were at their highest Ausust 1982 under Fraser at 20.76%.  For crying out loud, even blank cheque Whitlam "kept" them lower than Fraser.  Now Howard cannot hide under "he was not advised of this" as he was the sodding treasurer. There rests the case for the god damn prosecution.  You are a liar little Johnny.

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