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Massive spend papers over cracks in rickety economy We’re sorry, this service is currently unavailable. Please try again later. Dismiss May 17, 2021 — 12.10am Save Normal text size Credit:Fairfax Media It seems that Shane Wright has been drinking the Kool-Aid left behind by Mathias “debt and deficit disaster” Cormann (“An ocean of debt”, May 15-16). The economy has not “bounced back” after COVID-19, as some suggest. Rather, it has been dragged into better shape by massive government spending – but it is still far from healthy. Even the current Treasurer has acknowledged that “the best way to fix the budget is to fix the economy”. Full employment and price stability must always be our goals. Budget surpluses or deficits are simply a record of whether the private sector or the government has had to do the heavy lifting. -

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