Both of the major political parties are treating the electorate contemptuously by peddling economic bullshit projected 10 years ahead, when their immediate challenge is to get elected for a 3 year term in office and so should inform voters what they intend within that window to tackle the problems facing the nation.
The Treasurer this AM rabbited on about how projecting defence outlay 10 years ahead is sound financial planning. Really; when it is impossible to predict what the economic status of the nation will be a decade hence!!!
A few years back, Labor Minister for Defence Joel Fitzgibbon attempted to enforce financial discipline by pulling defence spending projections back to 4 years; but ultimately got shafted by lobbying from the big multinational arms corporates who dominate Canberra and 10 year defence outlay forecasting was reinstated.
Loss of AAA credit rating is well overdue for the Australian Government and also downgrade of the major banks. The sooner these happenings eventuate, the better because they will have cascading effects that will force wider financial discipline.
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