A surplus of rhetoric but a deficit of sense

As a surplus looks ever more unlikely, it's time the Coalition realised that running a modest deficit is a perfectly reasonable approach to spending.

This year Treasurer Joe Hockey learned the same lesson as former treasurer Wayne Swan: he’s managing an economy fundamentally different to the one enjoyed by John Howard and Peter Costello.

But rather than face up to those facts and treat the Australian public with respect, the federal government is still obsessed with a mostly meaningless economic residual: achieving a budget surplus.


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