The government has delivered a budget that set its sights low, but still asks too much of Australians | The Canberra Times

news, federal-politics, andrew leigh, federal budget, budget, budget 2020

A trillion dollars is a lot of money – a one with 12 zeros after it. That’s where Australia’s debt will peak. To put it in perspective, when the Liberals launched their “debt truck” scare campaign in 2009, they did so with the figure “$315 billion” emblazoned on the side – one-third of the level of projected peak debt under the Coalition today. So what does Australia get from that spending? The economy came into this crisis from a position of weakness. Last year, productivity went backwards, investment was in the doldrums, wage growth was among the slowest on record. We had problems in retail and a downturn in construction. That means we need to have big aspirations. When Curtin and Chifley sat down at the end of World War II to rebuild the economy, they didn’t take a “back to

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