Morrison says infrastructure solely built for exporting coal is an example of ‘good debt’

WENDELL HUSSEY | Cadet | CONTACT

For the first time in the nation’s history, the yearly budget will be divided up into “Good Debt” and “Bad Debt.”

Treasurer Scott Morrison confirmed yesterday that the new system would be used in an attempt to rebrand their “poor economic management.”

Despite the Liberal Government adding well over $100 billion to the Gross National Debt since their election in 2013, Morrison has maintained that the Liberal government is definitely still better economic managers than Labor.

Morrison claims that borrowing money at low interest rates for investing in “infrastructure” is ‘good debt’ and money spent on “basic annual costs” like schools, hospitals and….. welfare is baaad debt.

Morrison has re-written the rule book this annual budget and here is his list of Good and Bad Debts:

Good Debts:

1. Investing in rail links between inland coal mines and resource deposits that will ensure it is far more cost effective for large companies to profit is very good debt.
2. Upgrading ports in places like Newcastle and Gladstone, which again makes it easier for large companies to profit and serves little no long social benefit is good debt.
3. Not recouping money by giving corporate tax cuts, is good debt. It stimulates the economy and makes larger companies more inclined to hire working class people and pay them better wages.

Bad Debts:

1. Investing more than the absolute bare minimum in the health system is bad debt. If you want decent health care you should pay for it.
2. Investing more than the bare minimum in the education system is bad debt. If you want a decent education you should pay for it.
3. Providing funds for the CSIRO. Bad debt.
4. Investing in renewable energy is bad debt. Despite economic rationale that renewable energy can provide more for the economy than coal and gas, this is baadd debt.
5. Funds for a tax payer funded media organisation that doesn’t have any commercial influences or financial interests is very baaaaaaaaad debt.