Swan Lies About Mortgage Payments

4 May

Proof below.

Too disgusted to comment.

From the Sydney Morning Herald:

The Reserve Bank’s decision to leave its cash rate unchanged is good news for households and businesses doing it tough in Australia’s current patchwork economy, Treasurer Wayne Swan says.

“Following today’s decision, an average family with a $300,000 mortgage is still paying nearly $160 less each month in repayments than they were when we came to government,” Mr Swan said in a brief statement.

“That’s a saving in the order of $1,880 a year – extra money that’s particularly important given the cost of living pressures many families are facing.”

From the Reserve Bank of Australia Statistics (click to enlarge):

Howard Government – March 1996

Rudd Government – November 2007

UPDATE:

Thanks Wayne. You super little economic manager you:

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