We Must Choose Between Cutting Mass Welfare or Drowning in Debt, Economist Warns
One economist warns that Australian policymakers will need to make tough decisions sooner or later as the latest budget papers reveal the soaring cost of ambitious social welfare programs like the National Disability Insurance Scheme (NDIS), which is predicted to exceed the cost of the defence portfolio.
“They’ve got this long-term problem with trying to fix the budget, and they really haven’t done that because, politically, it’s difficult for them. They’ve got a commitment to all this additional spending like the NDIS, paid parental leave, and the childcare subsidy,” said Gene Tunny, director of Adept Economics, in an interview with The Epoch Times….