Magic Puddings

I think this might have been the most sensible thing that Tony Abbott has ever said:

THE Howard Government came to believe in “magic pudding” economics of lower taxes and increased spending during its last years in office, Tony Abbott says.

No kidding, eh?

“The fact we could have lower taxes, higher spending and bigger surpluses for about five years – in other words, we could have a magic pudding – led some people to think that thrift, prudence, responsibility had somehow become irrelevant.”

Remember those ad’s about “equity mate”, and the comments from the former member for Bennelong that we “have never had it so good”?  Those times were built on the back of the commodity boom, and very little of the boom-money was spent on infrastructure.

By the way – where is Howard’s debt truck?