Now having reached the ultimate ritual of the Budget, and economic management, through which the last thirty years political unravelling has been understood, the depth of the government’s problems are finally becoming apparent to all.
the real deciding issue of this election is stability – or, to put it more bluntly, which party can show it’s the least dysfunctional to run the government.
The whole fuss shows the degree to which the political class has become so insecure in the last few years, that what would have passed for normal political activity has become almost impossible.
So if the downturn is unprecedented, why has then Treasury chosen this time to change its methodology to more allow for the experience of past economic recoveries than ever before?
Predictions of some officials in Washington, London and Paris that the economy would begin to recover within a year, are based on no other reason than they wouldn’t know what to do if it didn’t.
A strangely unsettled mood seems to have settled over national politics in the last week. Debate over the Budget is still rattling around but with no coherent theme having emerged from either side while the media keep worrying over it like a dog with a bone.
Turnbull was dead right on Sunday that the government has a political strategy, not an economic one. Unfortunately, Turnbull doesn’t seem to know what it is.
There is starting to be some fairly tortured analysis doing the rounds in the press in the run up to next Tuesday’s Budget.
At the bottom of this conundrum is Labor still trying to make an economic argument when it has already admitted that an economic policy is no longer possible, something Rudd has confirmed by motivating his world tour as an alternative to watching the economic crisis unfold on CNN.
Saying your opponent’s spending plans are just a political ruse is one thing, saying the same for those of your own party is something else.