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The Canberra Times
The Canberra Times
National

'Wonderland' economics has its limits

The 46th Parliament has growled to a close, with an ugly campaign set to begin. Picture: Elesa Kurtz

This budget week Australians could be forgiven for thinking they had tumbled down a rabbit hole and ended up on a mushroom with Alice smoking a hookah in Wonderland.

How else do you explain a Liberal Treasurer, formerly best known for prematurely claiming "we're back in the black", effectively declaring debt and deficits don't matter and all is going to be for the best in this best of all possible worlds, thanks to soaring resources prices and an ever-expanding "magic pudding" economy based on the impossible assumption of endless growth?

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