'Good debt': how the Coalition learned to stop worrying and love the deficit
The treasurer, Scott Morrison, is hitting the airwaves to sell the benefits of debt as a vital source of capital – marking a further departure from Abbott-Turnbull government rhetoric casting debt as a disaster, an emergency, a financial melanoma or a house on fire.
In an economic speech on Wednesday, Morrison distinguished “bad debt” – to pay for recurrent spending – from “good debt” – debt used for investment purposes that increases productive capacity and produces future income.
The nuanced view of the benefits of debt sticks out like a sore thumb after a long line of provocative statements from simpler times when all debt was bad debt:
‘We are getting to a point where we can’t repay it’
“We’re going into hock to our eyeballs to people overseas. And you’ve got to ask the question how far in debt do you want to go? We are getting to a point where we can’t repay it” – Barnaby Joyce, February 2010
https://www.theguardian.com/austral...learned-to-stop-worrying-and-love-the-deficit
The treasurer, Scott Morrison, is hitting the airwaves to sell the benefits of debt as a vital source of capital – marking a further departure from Abbott-Turnbull government rhetoric casting debt as a disaster, an emergency, a financial melanoma or a house on fire.
In an economic speech on Wednesday, Morrison distinguished “bad debt” – to pay for recurrent spending – from “good debt” – debt used for investment purposes that increases productive capacity and produces future income.
The nuanced view of the benefits of debt sticks out like a sore thumb after a long line of provocative statements from simpler times when all debt was bad debt:
‘We are getting to a point where we can’t repay it’
“We’re going into hock to our eyeballs to people overseas. And you’ve got to ask the question how far in debt do you want to go? We are getting to a point where we can’t repay it” – Barnaby Joyce, February 2010
https://www.theguardian.com/austral...learned-to-stop-worrying-and-love-the-deficit