The Hon. Malcolm Turnbull MP, Leader of the Opposition, showing that no matter how important you may believe yourself to be there is always someone to prick the bubble by pointing out that tiny flaw in the argument:
KERRY O'BRIEN: It's potentially misleading, isn't it Mr Turnbull, to suggest that Kevin Rudd is racking up $200 billion of debt, because as you know, right at this moment $115 billion of that debt is debt that comes from a collapse in tax revenue because of the state of the economy.
MALCOLM TURNBULL: Well Kerry, whatever the causes of the debt -
KERRY O'BRIEN: But he is not wracking it up, is he? He hasn't racked up that $115 billion of lost tax revenue.
MALCOLM TURNBULL: Kerry, everybody has to manage their own affairs.
KERRY O'BRIEN: But isn't that right? Just before you go on, isn't that right?
MALCOLM TURNBULL: No, Kerry, Kerry, it is not right. If this country, if we end up with, - look, the Prime Minister brought into Parliament today a bill which would authorise the Government to borrow up to $200 billion. Right. He wants to raise Australia's credit card limit to $200 billion.
KERRY O'BRIEN: $115 billion of that money is the money that has been lost and is being lost in tax revenue because of the state of the global economy. Is that not correct?
MALCOLM TURNBULL: Well Kerry, yes, tax revenues are down. But what you saying? That I'm being tough on Kevin because it's not really his fault? Is that what you are saying? Poor Kevin!
KERRY O'BRIEN: I am suggesting that you might be wrong to say that he is personally responsible for the loss of that tax revenue.
MALCOLM TURNBULL: Well Kerry, let me tell you, if you're the Prime Minister of Australia you're responsible for the finances of Australia.
(ABC TV 7.30 Report 4 February 2009)
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