Business
Why I love Josh Frydenberg’s budget in all its big-spending glory – Sydney Morning Herald
When I unwrapped the budget papers last Tuesday, I gazed upon the rivers of red ink with a sense of relief.
Much of the reaction to last weeks budget has framed its big spending as fiscally reckless. That the government has outflanked Labor on the left. That the budget presages generations of budget deficits and a mountain of debt well never pay off. A cadre of Liberal backbenchers and former treasurers are said to be up in arms.
I care more than most professional economists about fiscal discipline. I worry that if debt ratchets up, it may expose us in the decades ahead to serious risks. I like lower…
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