Federal budgets could offer us much more than you might think. Yet 99% of the talk surrounding the Australian Labor government's 2023 federal budget misses these opportunities.

For a budget commentary that is both realistic and inspiring, Anne and Kev are joined by Andy and Lily, two bright, young advocates of progressive, heterodox economics. They provide the fresh perspective we desperately need, and they throw in deflationary cheese sandwiches for good measure.

Meanwhile, in episode #5 of Letter From the Cape, economist Bill Mitchell helps us to follow the money, when the federal government spends it.

Keep in mind as you listen:

• a budget surplus is when the federal government has received more dollars in taxes, than dollars it has spent into the economy over the past year
• a budget deficit is when the federal government has received less dollars in taxes, than dollars it has spent into the economy over the past year
• the money received in a surplus is not saved or spent by the government
• the money spent in a deficit does not create a debt the government must pay back

Let MMT turn your budget night upside down!

Show Notes

source of the passage on inequality read out by Kevin:

Less is More: How Degrowth Will Save the World
By: Jason Hickel

Credits

Theme Music
Pleading Ignorance, by Ed Kuepper, from the album Starstruck.

Additional Audio
Too Many Things, by Ed Kuepper, from the album Starstruck.