Working families are doing it tough?

By AR - Working families are doing it tough, so we're told by Kevin07 political hopeful, Kevin Rudd. They're doing it so tough that over the two years prior to 2005/2006 their household wealth increased by only 14% to a measly $563,000. That insubstantial figure is arrived at when you subtract the crippling burden of an average $92,000 debt from average total assets of $655,000. So thanks Kevin, for pointing out how tough we're doing it. Without you we never would have realised!! SMH.

It's a moot point, but I can't help wondering how much better off working families would be if we'd elected the last guy to take on the current government?

Remember him? Photo from TIME.

MK - Former ALP leader Mark Latham confirms -

The Age - Mr Latham, writing in the Australian Financial Review newspaper today, said nothing would change regardless of who wins the election because Australian public life has reached the "zenith of policy convergence". "The dominant ethos is greed, not generosity. I expect a Labor administration to be even more timid, more conservative," Mr Latham said.
Despite both major parties focusing on housing, rising interest rates and savings for first-home buyers, Mr Latham says there is no crisis but "just the manufactured hysteria of the political class". "There is no crisis for the hundreds of thousands of families that have already put themselves into debt and built large new homes, the so-called McMansions, across the country," he said. "In most cases they are enjoying a quality of housing well beyond the expectations of their parents and grandparents before them,".

Never thought I'd say this, but thanks Mr. Latham, for confirming.