The last time Australia experienced a recession was in 1990 when Paul Keating was Treasurer and Labor was in power.

One of the most pervasive arguments in Australian politics, is that the ALP are poor financial managers, and that the fault for this economic downturn was theirs.

But is that perception unjustified or accurate?

Tina Quinn speaks with former ABC journalist Kerry O’Brien and the 7.30 Report’s Chief Political Correspondent, Laura Tingle in part one of this three part series.