The demonisation of public spending has long been a strategy of conservative forces around the world – blaming it for any economic ill at hand.
The Liberals’ Treasury spokesperson, Ted O’Brien, has gone back to the old canard that inflation and interest rates are higher because the government is spending too much.
O’Brien likes to say that government spending is now higher than it has been since 1986 (outside of recessions).
This is kind of a dumb point. Because previously the NDIS was not a thing. Takeaway the extra spending due to the NDIS and government spending is not unusually high:

But the full weakness of the argument was highlighted this week when Ted O’Brien and Shadow Finance Minister James Paterson were reduced to massively verballing the Governor of the Reserve Bank in a desperate attempt to suggest they had a point.



