"Denben suggests Australia should have a piggy bank for a rainy day.....isn't that what big red started with?? "
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Mate, seriously... how hard is it to sell a $60 billion asset to kick along the kitty? Yes the Coalition were master economic managers by selling an asset. A goose could sell Telstra.
If Swan had a Telstra-like asset to sell today, he could pretty much bring our $80 billion net debt to $20 billion in a flash... then Swan could add six special purpose levies (as did the Coalition), that would bring the net debt down to maybe $10 billion... make Swan look like an absolute genius....
Unfortunately for Australia, the Coalition sold the family jewels...
