Deficits for the next 40 years — Australian Government. By Matthew Cranston in The Australian.

Jim Chalmers has assured Australians that personal income tax cuts are still part of his economic plans, despite revelations the country faces 40 years of budget deficits, ballooning debt, and an economy that will remain largely reliant on migration. …

Awesome job, Jim.

His second Intergenerational Report … pushes migration and multiculturalism as key drivers of economic growth through to 2066, and puts artificial intelligence at the centre of future productivity strategies

Reality will be even worse:

Economists and industry bodies warned the report relied upon unrealistically rosy assumptions of productivity and fiscal discipline.

Now it’s AI that is going to make us rich? After broadband (NBN), net zero, renewable power, and green hydrogen all failed? All our competitors will also adopt AI, many faster than us, so our relative position will slip.