Jacinta Collins (Victoria, Australian Labor Party) Share this | Hansard source

I suggest, Senator Macdonald, that you may have that poster up on your window as well—the poster saying that that debt will mean that Australians are now paying the price for Labor’s reckless spending.

I will continue on the reckless spending environment and the hysteria around the claims that such is the case. The revenue downgrades made a budget deficit in Australia inevitable. I think you would struggle to find anyone who would argue with that point. The global financial crisis has led to revenue downgrades, meaning it is inevitable that we face a budget deficit. In the current environment, the only responsible course of action is to borrow to finance a temporary deficit.