Ideas Are Real

Households 'key' to infrastructure
By Leon Gettler
April 15, 2005

Former Treasury secretary Tony Cole has asked Australian governments to stop focusing on budget surpluses and start taking on debt to build badly needed infrastructure.

Writing in a report from the Committee for Economic Development of Australia, Mr Cole said governments should follow the example of households and businesses, which used debt to build wealth.

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http://www.theage.com.au/news/Business/Households-key-to-infrastructure/2005/04/14/1113251736970.html?from=moreStories

Patrick Henry:

A few years ago I met a Local Government regulator who said that theproblem was the current mania for balanced budgets when they should beinvesting in infrastructure to deal with upcoming growth.

I suspect the truth is somewhere in the middle. Governments should not finance salaries and paperclips through debt, but financing real, useful infrastructure is a good idea, especially if it pays itself off.

Doctor Thomas:

Ideas are real.

The simple idea of "a balanced budget is good" has profound material consequences.

Patrick Henry:

"Ideas are real" - didn't I read something about that somewhere in Zen and the Art of Motorcycle Maintenance?