I can't believe people don't understand the benefit of debt. The world and nearly all people in first world countries live in debt.
It is how the world secures growth. No debt = no growth.
I know pollies on all sides spruik the nonsense about getting back into surplus blah blah. It is pure pollie speak.
It is about debt management and being able to repay the borrowings at manageable interest rates ie not blowing the credit rating.
I agree though about selling assets. Quick fixes for poor management won't be sustainable.
One day we will again be a manufacturing country where we add value rather than just be a primary producer.
I am hoping the world of technology further opens these doors however those of less academic abilities also need a career path.
I do think this is where Keating was one of the smartest. He got it.
