Doctor Chalmers is talking about the fact, in one of optimistic tones, of having a surplus, the first since 2007/08 when he brings down the budget this year.
I find that suggestion confusing!
How can you have a budget surplus when Australia has to find $60 million every day to service the interest on its accumulated debt. That comes in at $112 billion annually.debt on borrowings growing all the time, fuelled by an increase in interest percentages and also the ongoing borrowings governments are making to facilitate budgets.
You either have debt or you have credit. How can you say that in the short-term that you have a budget surplus when from a long-term view point (where confronted by such huge huge deficits) debt that will never be repaid.