Dumb and dumber, page-27

It's very disappointing to hear and i'm hoping it is just populist rhetoric. But for an extraordinary balance sheet item the June Qtr was negative (and even with a measly 0.2%). Let's also remember that in that Qtr the Govt was willing every business to spend 20k and insta-depreciate it too. In the current quarter there have been plenty of concerns with Greece, China and now even our own index closing under 5000.

Does he really think with the Australian household debt at $2.1 trillion we are going to be able to withstand austerity and nothing else? For sure, spending will have to take a haircut, but kidding himself if it doesn't think it needs to be matched by some very, very smart tax revenue tweaks and fiscal stimulus to pray we can get things going again.

I don't envy him, i'll say that. Considering Global factors, lack of wiggle room on household balance sheets and populism behind the goal of 'surplus' there will be no easy answers.