I agree completely with that, while I believe that debt is an important tool for a government to tweak economies, you cannot rely forever on inflation covering your tracks.
I'm caught betwixt and between. I am sympathetic to Keynesian deficit spending in times of slow or -ve growth, but NEVER for recurrent expenditure, hence my abject disappointment in Rudd. Can you believe I voted for him? I need a memory reset. lol
His fans will say he sort-of spent on capital projects but I defy any of those fans to name anything that will be productive in the long term as the Hoover Dam in the US was or a tiny local project at the same time: A road up Mt Spec. Rudd cannot even lay claim to a local road that will be remembered.
