Rudd's Howard Budget Deficit a Good Thing

It is unfortantate that so many are duped into believing that the Howard government were good economic managers, and deficits are evil.  The real facts are quite different. Labor back in the 80s and 90s did the hard yards in economic management that Howard rode for 11 years. The Howard government did not manage the economy; they drove it without servicing the fundermentals. No investment, no real substantial changes. The mining boom and stable global economy provided growth that easily provided surpluses. Today the economic crisis would have created a deficit no matter the political party in power, simply due to the lack of tax revenue. Deficit is not a bad thing, it helps real people and the private sector recover and eventually move their personally debt into positive territory. When the private sector is in decline, government must spend to help it recover. Once the economy recovers and grows, the government can recoup a surplus again.