AFTER four years of shortfalls totalling more than $173 billion - and with more red on the way - Wayne Swan and the federal government have to work harder on their economic management, the nation's top business group says.

The clear message from the Business Council of Australia is that Labor simply isn't doing well enough.

As the government came under fire for yet another broken promise, BCA chief Jennifer Westacott demanded that the government do a better job of economic management.

"It is essential that the government redouble its efforts to lay out a future path for fiscal policy that is predictable and credible," Ms Westacott said.

"This process also needs to be accompanied by policies focused on improving productivity and competitiveness and reducing business costs.

"There will be no avoiding the need for a comprehensive review of the scope and size of government in Australia."

Most of my income comes from US pensions. If the Australian dollar falls to 20 cents I will have 5 times the purchasing power. I don't wish it as it will not be good for Australia. However, if it happens I will put the money back in the Australian economy. At least in that way I can help Australia.

Someone correct me if I am wrong.

This big deal to deliver a $1.1 billion surplus is an illusion yes we have this tear a surplus BUT we still owe hundreds of billions in debt from bond issue, unfunded superannuation etc.

So in reality a $1.1.billion surplus is meaningless because the debt level is still hanging over our head.

CORRECTED

Someone correct me if I am wrong.

This big deal to deliver a $1.1 billion surplus is an illusion yes we have this year a surplus BUT we still owe hundreds of billions in debt from bond issue, unfunded superannuation etc.

So in reality a $1.1.billion surplus is meaningless because the debt level is still hanging over our head.

errr, I don't think you corrected it.
Our surplus for this year, $1.1 billion, went up in smoke and left I believe an extra $3 billion deficit.

After all he is the world's greatest treasurer !

Bazz - The amount $1.1 or $3 billion is irrelevant my point is even if he was to have attained that it would still have left us oweing hundreds of billions in debt from bond issue, unfunded superannuation etc.

That is what I wanted to have confirmed.