Victorians must accept deep austerity
History doesn’t repeat itself, but it sure does rhyme. When Jeff Kennett became Victorian Premier in October 1992, Victoria’s net debt was more than 30% of gross state product (GSP) — one of the highest state debt burdens in Australian history — and it had lost its AAA credit rating and was facing rising borrowing The post Victorians must accept deep austerity appeared first on MacroBusiness .
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