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December 11, 2014

No, Amanda, debt is NOT the problem

by John Kelly

amandaAmanda Vanstone’s article in The Age, 8th December, is so full of holes that water would pass through it quicker than it does over Niagara Falls. Amanda has sprung to the defence of Joe Hockey even though she acknowledges he has made mistakes. She says, “The government has clearly spelt out the need to tackle the debt situation, but it didn’t cut through.”

No, Amanda, it hasn’t cut through and the reason is its lack of balance, its lack of fairness. Amanda goes on to say, “I think the PM’s phrase “inter-generational theft” says it all, and if every minister gets on board we may see a more responsible approach by the Parliament when it resumes in February.”

It’s a catchy phrase, “inter-generational theft”. It has all the hallmarks of something sinister, something underhanded going on. In fact, what she is referring to is the level of deficit spending. As the mantra goes, deficit spending is borrowed money that must be repaid sometime in the future by, presumably, our children and grandchildren.

Read more at: The Australian Independent Media Network

Read more from Australian Politics

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