Glad he has finally said it in such a direct fashion... Take on more debt, says RBA governor Glenn Stevens The debate in Australia (and on these forums at times) about Government debt is flat out dumb. As a nation we unbelievably two faced and hypocritical on this issue. Privately, we think nothing of carry debt at many multiples of household income ( call it household GDP) - in fact, we salivate for more wherever possible. At a corporate level , we have no issue at all with ASX listed companies carrying debt well in excess of earnings ( call it corporate GDP) and routinely reward them with share price increases. Yet when any member of Government; local, state or federal, dares to contemplate taking on debt, we crucify them. Australia can borrow money on 10,20 even 30 year terms at below the rate of inflation, and could be undertaking nation building projects where the assets being built would generate real economic growth, but instead gets nothing done. High speed rail could transform regional areas between Sydney and Melbourne - towns like Goulburn, Albury, Shepparton etc... Water retention and harvesting projects , similar to the Bradfield Scheme, could allow for reliable, drought proofing /irrigation of the other side of the Great Dividing range , allowing us to develop a genuine food bowl for the world. Or just quietly, a real NBN with FTTH and sufficient throughput to stop census night catastrophe's! Nope...this is 'straya.... Govt debt is bad,bad,bad.