TE-BO: Budget 2014 – Former Federal Treasure Wayne Swan proves again he is a fruit-loop …

TE-BO: Budget 2014 – Former Federal Treasure Wayne Swan proves again he is a fruit-loop …
| Author: TE-BO – The Eye-Ball Opinion| Date: May 8th, 2014 |


the-eyeball-opinion6The former Federal Treasurer Wayne Swan is to deliver a speech tonight at the Chifley Institute in Melbourne that will largely try to re-write his own Political epitaph as Australia’s worst Treasurer ever.

The guts of the speech according to a story published in ‘The Australian‘ today will be about Swan trying to convince his audience that Abbott and Hockey are nothing but “bomb throwing demolition men” out to create a misnomer about a ‘budget crisis to implement ideological cuts to services‘.

Full story appears below:

The Australian Logo‘Bomb thrower’ Tony Abbott threatens AAA credit rating: former treasurer Wayne Swan
| Author: Jarad Owens | Date: May 8th, 2014| Link to On-Line Story. |


THE Coalition could endanger the nation’s AAA credit rating by “falsely demonising” Labor’s economic legacy, Wayne Swan has claimed.

In a speech to the Chifley Institute in Melbourne tonight, the former Labor treasurer will describe Tony Abbott as a “bomb throwing demolition man” who is overstating the budget crisis to implement ideological cuts to services.

Speaking ahead of the speech, Mr Swan warned ratings agencies would “sooner or later” review the nation’s credit score in light of the Abbott government’s “trashing” of the economy and its “excessively partisan” approach to public policy.

“Australia has a very good set of finances when you compare them to anything internationally, and that is widely accepted,” Mr Swan, who was treasurer between 2007 and 2013, told ABC Radio.

“When the government of the nation is talking the economy down and saying that our prospects are poor, that the budget is broken, that doesn’t help when international advisers and agencies are examining our economy.

“What they will see is a government that is acting irrationally, that’s motivated by politics and not the economic interest of the party, and they might mark us down for that.”

During Mr Swan’s tenure as treasurer, Australia obtained a AAA rating from the three major ratings agencies — Standard and Poor’s, Moody’s and Fitch Ratings.

Liberal MP Kelly O’Dwyer said Mr Swan’s ownership of Australia’s favourable credit rating was one of the “myths that the Labor Party have tried to perpetuate” about the economy.

“They like to claim the AAA credit rating. In fact it was under the Labor Party that we lost our AAA credit rating in 1986 and 1989,” Ms O’Dwyer told Sky News.

“We got it back with Moody’s and Standard and Poors (during the Howard government) because we repaid back Labor’s debt.”

Ms O’Dwyer said the Fitch rating returned during the Labor years because the agency “forgot to look at Australia for a period of time, but it was due to the good work of Peter Costello and Joe Hockey in repairing the budget” left by the Keating government in 1996.

Mr Swan warned ratings agencies would perceive the government as “excessively partisan” for sacking a competent Labor-appointed Treasury secretary in Martin Parkinson and the cancellation of former Victorian Labor premier Steve Bracks’s appointment as New York consul-general to make way for former Liberal senator Nick Minchin.

Swan with his six years of misleading statements to The House over his Budget forecasts, is responsible for the greatest fraud committed upon the Australian People by a Minister who lied about Government Finances to win elections.

His cumulative tally of $300 billion of new debt created whilst he oversaw Australia’s Government finances, ranks as criminal insanity by someone who never had the skills, nor understood the responsibilities the job carried.

This speech tonight will be Swan’s attempt to paint a new picture to cover over Labor’s true legacy left to the new Government, and the Australian people.  Who in their right mind would want to listen to anything Swan might have to say given?

It is only the ALP loving ABC,  the Fairfax media, and it would seem The Chifley Institute Administration that champion lost ALP causes.

Why the Chifley Institute would offer Swan an opportunity like this is beyond understanding.  Why Swan is still a Member of Parliament is also as bewildering … it can only be because of the additional benefits he will draw for his Parliamentary Pension scheme.   What a cheap and nasty maggot he is … and still feasting upon the public purse …

Swan will never serve in Government again – he will always be ridiculed for the legacy he has left behind, and Australian’s will be paying the price for his incompetence for generations to come.   Someone should tap him on the shoulder and tell him he is done and shunt him from the building.

[…EYE-BALL…]Gratuity

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This entry was posted by TE-BO - [The EYE-BALL Opinion].

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