Today in The Australian
When the Menzies government took office in December 1949, Australia’s public debt stood at 120 per cent of GDP. By the time Robert Menzies retired, on Australia Day, 1966, that proportion had dropped below 50 per cent. With the Treasurer on Thursday announcing “eye-watering” debt and deficits, the lessons of that achievement deserve to be at the forefront of public attention.
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