Here’s a new one – the fiscal tightening in the May Budget risks the economy falling into recession. A recession in Australia! Because of fiscal policy!
Well, that’s the out-of-your-bum headline from The Australian today.
Here it is:
"PM rejects there's a risk economy could slide into recession as a result of budget cuts"
Can anybody seriously suggest that the Australian economy is about to “slide in recession” for any reason at all and yet more absurdly suggest that fiscal policy will cause it?