Deficit or surplus

I address a question to readers: Please consider your answers.
Do you have a mortgage? Did you assess your ability to repay your mortgage when signing up for the debt?
Then you obviously are running a deficit but you have no embarrassment about this because you are sure you can service the debt. And besides it’s normal for us to have mortgages to enable us to buy our homes and our services.
Why then do you condemn a government for running a deficit to pay for the services we want and need? If there was no debt in the community who would lend any money for infrastructure, houses, etc.
So think again. Is it so dreadful or frightening to have a deficit in a country like Australia with all the assets we have. And don’t tell me that the previous government left us a surplus – that surplus was almost exactly the proceeds of the sale of Telecom so obviously that government, without the sale, would have been running a deficit.


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