After blowing the budget to deal with the economic fallout of the coronavirus pandemic, we now need a revolution in our national thinking about debt and deficits.
Big plans are all well and good, but it pays to think carefully how much red ink we should be willing to accept.
Some seem to think the RBA is bullish on growth, but reading between the lines it seems to be hedging, writes Richard Holden.
We can’t expect the budget to be a perfect predictor of debt and deficits – not even one year ahead. But we should at least make sure we’re not conned by the treasurer, or commentators, writes Richard Holden.
Advocates for unlimited debt – public or private – have failed to make their case, or even shown how it is possible without a breakdown of society, writes Peter Swan.