Picking up on Reserve Bank governor Glenn Stevens’ remarks about “borrowing to invest” and not being afraid of a deficit if there are good policy outcomes to be had, eight prominent economists (including a couple of blogging ones) have written an open letter to Kevin Rudd making suggestions for a further fiscal stimulus under three headings of policy - Superannuation flexibility, Building the nation and Preparing for climate change. Read more »
No doubt because Malcolm Turnbull has demonstrated his stunning grasp of economics yet again by claiming that the Commonwealth budget going into deficit is some sort of yardstick of economic failure, there’s been an immense amount of commentary on Kevin Rudd and Wayne Swan’s willingness to utter the word “deficit”. The latest instalment in the saga is documented by Peter Martin here - Rudd’s conceded that Australia may have to sustain a “temporary deficit”. Read more »
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