Lesson from Down Under - child care collapse

Working parents finding decent child care for their kids at a price they can afford is a struggle.

It appears that Australia's government somehow helps parents afford day care by contracting with a private company, ABC Learning  Centers.  But now ABC is in trouble.

ABC has more debt now than they can repay.  The company cares for a quarter of Aussie kids in day care.   The government now must consider bailing them out.

The clamor is always to privatize government services as a was to improve effectiveness and save money -- a win-win.

Now the pendulum is swinging the other way.  Government stability trumps private boom and bust?