S&P cheers on Recessionberg

In a magnificent outpouring of guff today at the AFR, L-plate Tresurer Josh Frydenberg puts all stimulus hopes to bed:

As we go forward, we will continue to maintain a disciplined and responsible approach to managing the nation’s finances. We will not be panicked into reckless spending.

With the budget back under control, our fiscal strategy now focuses on paying down Labor’s debt with sustainable surpluses over the cycle, keeping taxes low and under our self-imposed cap, and targeting spending to boost productivity, workforce participation and guaranteeing the essential services that people need and rely upon.

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