September 27, 2005

Following the US Lead on Corrupt Government?

At the risk of going off-topic, this is pretty relevant to any Australian readers. Crikey analyzes Peter Costello's lying budgets over the past decade:
On average since 1999-00 (when accrual accounting was introduced), his full year-ahead projections of the underlying cash balance have been out by more than 200%; the Mid-Year Economic and Fiscal Outlook projections (typically made about 7 months before the end of the financial year) have been out by almost 200%; and the projections made in the budget for the following financial year (ie, about seven weeks before the end of the financial year) have been out by about 75%.
As they say, if this were a business, the man would be facing charges. Instead it's government and he is being championed for the top job.

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