I know enough people within the official family to know that the forecasts were politicised.

Just because the Australian system of government is different, does not proclude a CBO type of institutions being set up. The legislature still has to vote on issues relating to the budget and policies with broader fiscal consequences and the non-government parties simply don’t have the resources to indepently assess complicated issues. The public is at an even worse informational disadvantage.

Of course, an independent fiscal authority is an alternative way to go about things. But I don’t think the RBA is the best example, unless you want the institution to actually make fiscal policy decisions (as per Nicholas Gruen’s proposal). I’d rather an institution modelled on the Productivey Commission with the mandate to assess the overall sustainability of Australia’s fiscal position, review the long-term fiscal implications of individual policies, and independently assess the costing of the parties’ promises during elections.

I know they don’t believe their own forecasts for 4%+ growth in the out years

How do you know LO? Did someone there tell you?

The CBO os there to advise Congress, which has a separate but equal role to the Administration in the Budget. In the US, the Reps, the Senate and the Administration each put up their own Budget, and a compromise gets stitched together.

We have a completely different system of government and our Parliament has a different role altogether. You either have a Westminster system of government or you don’t. You can’t cherry pick bits of other systems and graft them on.

If we’re going to radically revamp fiscal policy, a better idea would have to have an independent fiscal authority, like the Reserve Bank. That at least would not bastardise our system of government.

Voted out just as the world economy nosedived (after cornering Labor into matching their boom-time tax cuts that will make the deficit much larger) – typical of the LPA.

Reckless and economically illiterate.

Tough – about as tough as the skin on an egg custard.

Debt for decades to come – typical of the ALP.

And here we are. Total gutlessness on an ETS and Climate Change + THIS budget = the odd 1% swing this government needs to actually lose Government. Let the pollster begin. They’re legacy? An historic apology, an intital will to tackle climate change with the signing of the Kyoto Protcol and then the biggest dissapointment in Australian political history…this government today.

Happy days with Emo Man The II…