Hours out from the 2012-13 federal budget, a look back at 2011....
Gross debt - gross ignorance on Saturday, 12 November 2011:
Admittedly, the notion of gross and net government debt is a little complex, but when someone speaks authoritatively about gross debt in particular, one would hope they understood the intricacies of the concepts involved and how the government debt market works before they opened their mouth. It is embarrassing and disturbing, therefore, to hear the Shadow Finance Minister Andrew Robb, join with the Leader of the Opposition in the Senate, Barnaby Joyce and Leader of the Opposition, Tony Abbott deliver sensational criticisms about the rise in gross debt in Australia.
The views of the Liberal and National Party leaders - the alternative government in other words - highlight a gross misunderstanding of markets, economics and conceptualising what is big and small.
Read the rest here.