The current debate on negative gearing is just part of Australia’s credit binge woes that must lead to a correction sometime - one where Australians come to terms with living within their means.

The same will apply for governments. At the heart of this correction will be accounting for the true cost of debt driven by the fundamentals of debt servicing and risk that are unavoidable. Key issues surrounding this concept include: Basic value for money considerations go out the door when the…