At the AFR, monetary curmudgeon Stephen Grneville is making sense:

Rating agency Standard and Poors has just issued its usual finger-wagging warning to Australia about the dangers of budget deficits.

…The issue of the moment, however, is what to do about an economy which is performing well enough, but growing just a little too slowly to get unemployment down to its full-employment level, or to push inflation up to the RBA target.

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