But Swan said Labor would take no responsibility for the budget measures Hockey would announce next week, as the Coalition was engaged in "fiscal fabrication".
"The UK, like other developed economies, has engaged in fiscal, educational, health and environmental child abuse".
And Munchau is right: if all of Europe is going to be engaged in fiscal austerity, with the ECB adding to the downdraft instead of fighting it, there's no way the peripheral countries can make it.
Quite often, austerians point to some example of a country that engaged in fiscal austerity yet experienced a strong economic recovery,and claim that this is a refutation of Keynesian views.
And the Commission should be pointing out just how bad an idea it is for France to be engaged in fiscal tightening because its economy is weaker than expected, which is exactly the reverse of prudent macro policy.
On Tuesday, the state Republican Party released its first TV advertisement of the campaign season, declaring that Albany has been broken by a Democrat-controlled one-party system that has engaged in fiscal mismanagement and produced a "state government that is a national embarrassment".
