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That's to say, it's not just the starting point that's fallen, but also the rate at which we can safely make up lost ground.

BBC: Inflation: Balancing the risks

Reducing federal spending alone is insufficient to restore economic growth to anything approaching its post-World-War-II, 3.2% annual real-growth trend, much less make up lost ground.

FORBES: Memo To The President: We Can't Tax, Spend And Print Our Way To Prosperity

Still only 43, and facing his first full term as opposition leader with no obvious challenger, Mr Latham has the luxury of time to make up lost ground.

ECONOMIST: Labor's defeat has unleashed an internal war