Good politics pre-election. Good macro post-election.
One problem: Commission of Audit has a reference that states:
2) “It is also essential that the Commonwealth government live within its means and begin to pay down debt.”
This appears to be in direct conflict with raising the debt limit.
The Federal Government is not like a household! Households can’t make their own currency and require that people use that currency to pay taxes. I have addressed this and many other myths previously.