The only way to get the notion of DEFICIT through to the Australian people is by practical demonstration This is how we debunk the Hockey lie about our financial status in the minds of average Australians.
To Mr. Stiglitz who, by the way is a REAL Economist; DEFICIT under control is the only way to run a country on a Capitalist Planet. I am sure that I could rely on Mr. Keating to agree on this one also.
Allright, our example is of a young family with a new addition, a little baby girl. The old 5kg capacity washing machine has to go. They do their sums and reach the conclusion that they can borrow the money for an 8.5kg capacity washer and afford to make the repayments with no ill effects on the family’s economy.
The family is now effectively in Deficit, BUT, they improved the quality of their lives i.e. less visits to their laundry room, less effort and a lot of time saved which they can spend on leisure and more quality time with their kids.
I wonder if a “Treasurer” of the caliber of Mr. Hockey (.77) would have the wits to have an inkling of what I am writing about.
The lies that he has spread about these two easily understood concepts of DEFICIT and SURPLUS will send him to the Soup Kitchen for defeated Arse Lickers.