”The
numbers unveiled by Josh Frydenberg and Mathias Cormann are
butt-clenchingly large: a deficit this financial year of at least
$184.5 billion that will probably nudge $200 billion by the time of
the October budget and its extra spending measures; gross debt that
will go through the Morrison government's recently increased limit of
$850 billion some time in 2021-22 with no idea how it will be paid
down. Frydenberg likened the effort ahead to climbing a mountain. But
this ain't no day-trip to Kosciuszko or even a planned assault on
Everest. It's more Olympus Mons, the 25-kilometre high mountain on
Mars.”
[Senior economics correspondent Shane Wright in The
Sydney Morning Herald,
24
July 2020,
p.6]
No comments:
Post a Comment