I'm not hearing any solutions just whinging. Abott simply has to say the situation he came into is a lot worst than he thought and he has no choice but to break his promise.
most economists disagree. when i;m dead i can't service debt. a country can . debt and borrowings keep the world economies turning over .. if it stops the real problems start.
..For a start, Hockey inflated the old year's deficit by choosing to make a payment of $8.8 billion to the Reserve Bank. This is just the government moving money between its pockets; it has no effect on demand.
If you ignore the one-off payment to the Reserve, the expected improvement in the budget deficit falls to $11.3 billion, which is equivalent to 0.7 per cent of GDP - but that's still a quite significant degree of contraction.
