Be careful what you wish for. I complained yesterday about the Treasurer who treats us like morons, using terms like good debt and bad instead of recurrent and capital expenditure. In an article about the expected budget this morning, Greg Jericho offers the following explanation of another measure the Treasurer uses to divert our attention from the worsening state of the economy.
'In essence the net operating balance is the “fiscal balance” minus net capital investment. The fiscal balance is not the same as the “underlying cash balance” (which is the balance we talk about when we talk about a budget deficit or surplus), as it is an accrual measure while the cash balance is (oddly enough) a cash measure.'
At least he had the good grace to admit that it was the most boring sentence he had ever written
I'm not in mood to comment on Q&A last night. Whenever Barnaby Joyce appears, it's like a train wreck. Tanya Plibersek, in an exasperated voice, blurted out, 'What year are you living in, Barnaby?'
The best comment of the evening, though, was from Barnaby, 'I have about 70,000 followers on Twitter and 69,999 hate my guts. On Facebook you have friends; on Twitter you have crazies.'
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