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From the AFR comes some sense from blustering Joe:
Treasurer Joe Hockey has indicated for the first time the government would support the Greens’ proposal to abolish the nation’s debt ceiling altogether, in a bid to resolve the political impasse on the issue.
“If the only option is to remove it, then remove it,” Mr Hockey said to reporters in Sydney.
If the Greens and government both agree on the move, it can pass through the Senate without the approval of the Labor party.
Mr Hockey said he was yet to have a serious discussion with the Greens but the problem was becoming urgent.
It really is just a political tool that wastes all of our time.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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