Fact Checking the WSJ
I don’t mind the WSJ running a puff piece on Australia and Prime Minister John Howard, but at least get the facts straight:
When he entered office in 1996, unemployment was 9%, interest rates hovered around 20%.
No, the unemployment rate was 7.6% and the official cash rate was 7.5%.
Then there is this:
the debt is a puny 4 billion Aussie dollars.
True enough, but why stop with the current net debt figures. In 2008-09, general government net debt is projected at -$56,389 million or -5.3% of GDP. But I’m guessing that a negative net debt position would be a little too tricky for the WSJ to explain to its readers.
posted on 05 September 2005 by skirchner in Economics
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