Sunday, April 12, 2009
By 2100 the unemployment benefit will be worth less than one-fifth of the pension, with the rules the way they are.
(Assuming 2.5 per cent unemployment benefit growth, 4 per cent pension growth)
John Quiggin is fond of quoting Herbert Stein's Law, which is:
"If something cannot go on forever, it will stop."
So I predict that this unhealthy, unsustainable farce will stop; most likely as soon as May 12 when Rudd and Swan bring down their Budget.