It’s good to have a deficit, been hearing that since high school economics. It’s good to have debt, it’s essential to have a constantly expanding economy.
Economics is the science that is about as reliable as astrology. Here’s a really novel thought, how about we buy what we can afford, and pay our bills as we go. True we might lack the surges and explosive growth that the debit / credit cycle allow, but it also stops the crashes and collapses that the cycle causes. Responsible economics, a whole new social science.
Gillard plans to balance the deficit by 2012-13. Maybe Australian economics finally hit puberty.