Barnaby Joyce, you may be an accountant but you are apparently no very little about government accounting.
Governments don't have a balance sheet and don't make profits and losses. You can't run a government like a business. It's economics that's “supposedly” runs economies, not accounting.
Any wise Economists will tell you that you don't have to spend money on assets to make profits Governments can make money out of thin air. The reserve bank created by a government, puts money into the economy from absolutely nothing. I believe it's called monetry policy.
If you don't believe that, explain how hundreds of years ago there was no money in this country and now there is heaps of money? Where did the money come from?
So I don't think you have much authority to talk about economics.
It maybe you do know a bit about economics and because you are a “good politician” you simplify economics to accounting to enhance your political ambitions. I define a good politician as one that stays in power.
To use a supposed quote from Norman Chomsky
“There is a purpose behind distorting history to make it seem like only great men achieve significant things. It teaches people to believe they are powerless and must wait for a great man to act.”
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