Mixed metaphors, same old fiscal myths
The ABC news report (May 4, 2015) – Budget figures likened to Stephen King novel as Deloitte predicts $14.1 billion blowout for 2015-2016 – is one of the worst pieces of journalism you will ever read. There is no critical scrutiny in this report at all. It clearly just takes the press release from the private consulting firm and summarises it for public consumption. That is not balanced reporting or good journalism. The ABC is our national broadcaster, funded from the public purse and reaches all the population. It is also a free resource so there are no barriers to entry to consumption. It therefore has a responsibility to provide balanced reporting and should never become partisan. The problem is that on economics matters it has become a neo-liberal mouthpiece and continually gives headline space to mainstream economics organisations who make money from selling spurious advice about the economy. The only reasonable thing that this ABC Report is that the headline likens the fiscal analysis of Deloitte Access Economics, a Canberra-based economic consultancy firm, to fictional prose, which I think is an accurate assessment.