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Massive spend papers over cracks in rickety economy
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May 17, 2021 â 12.10am
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Credit:Fairfax Media
It seems that Shane Wright has been drinking the Kool-Aid left behind by Mathias âdebt and deficit disasterâ Cormann (âAn ocean of debtâ, May 15-16). The economy has not âbounced backâ after COVID-19, as some suggest. Rather, it has been dragged into better shape by massive government spending â but it is still far from healthy. Even the current Treasurer has acknowledged that âthe best way to fix the budget is to fix the economyâ. Full employment and price stability must always be our goals. Budget surpluses or deficits are simply a record of whether the private sector or the government has had to do the heavy lifting. -