The debt we can't pay is growing

David Murray's clarion call on public debt shows the urgent need for honesty about tax and entitlements. And it presents a real conundrum for Canberra.

We're all indebted to David Murray – not the way we used to be, when roughly a quarter of mortgage holders owed money to the bank he ran, CBA. Nor in the way public servants owe him a debt of gratitude for putting the Future Fund on a steady course to pay out their generous super entitlements.

Rather, we're all indebted to him for telling the truth.

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