Justified Australian triumphalism from Lynton Crosby in the UK Telegraph:
Which country will have no government debt within a year, contributed the most to help those in need after the tsunami, and was described by the Organisation for Economic Cooperation and Development as a “model for other countries”, America or Australia? You’ve guessed it. Australia. For so long simply seen as an adventure playground for gap year students or a breeding ground for sportsmen, Australia has now graduated into the world of big players …
The Australian economy is now in the 15th year of the longest economic expansion in 50 years—perhaps, according to John Howard, the Prime Minister, “the longest since the gold rushes of the 19th century”. Today this continent, much of it desert, ranks 53rd in terms of world population, but is the world’s 13th largest economy; eighth in the world in income per head from 18th two decades ago.
Most impressive statistic: reducing government debt from $96 billion ten years ago to … zero.
(Via Mike Daly)