Yes it is an interesting read with obvious parallels to the parlous state of our own books.
Starting from less than zero debt as it did in 2007 the current govt have made a truly heroic effort to get our current debt to where it is today.
It shouldn't be underestimated how much political capital these fraudsters invested in getting back to surplus this year (rolled gold guarantee) so that they could give the illusion of fiscal responsibility.
Even with their knee jerk efforts and accounting trickery they still could not pull off a once only surplus.
But hey, as Swan says, it's not really their fault and.. it may even be a good thing and.. if it wasn't for Abbott talking down the economy and...
