This is from The Public Knowledge Blog which has the above chart among many other insights that are not normally found in public discussion. It really does make a difference to see these things in front of you this way. Here’s another that tells a more historical story, but just as depressing as the first chart, if not more so. The sheer damage done by public spending and deficit finance is hardly understood anywhere, and certainly seldom by those on the receiving end of the cash and payments.

If you own a stock of assets already, like a house and a car, your livings standards will only be slowly eroded but downwards they will come. But if you are paying as you go, you will feel your living standards slipping away and unless you have some way to protect your income, things will only get worse. The attack on super is just one form in which our falling productivity will manifest itself in lower personal incomes. Economic management is frightening when you can see what’s going on. The Turnbull-Morrison slowly-slowly approach only works for a while, and only on the political side. The economy will continue to wear away unless things are turned around and private sector activity without any form of government subsidy becomes the order of the day. The innovation statement is more colossal waste and evidence they do not have a clue about what needs to be done.