How does our deficit compare?

[donnashuggy]

To other major economies around the world.

Is it realy doom and gloom when you study the percentages?

[i-need-a-martini]

Well acording to PEFO we were way ahead at election time in terms of growth, debt projection, unemployment and personal income growth. And that (despite Abbotts frothing to the contrary) is what the Coalition inherited.

However, I am predicting doom and gloom. Cause even though Hockey has only been there 100 days, things are looking dire for the next year thanks to ridiculous decisions like huge tax cuts to mining, no CT revenue, $75k per baby bonus, and his nice little gift to Reserve Bank Fund (quiet money?).

As Mark Kenny suggested in this mornings review: Declining revenues, and billions in extra spending have contributed to a more than $17 billion deterioration in the budget bottom line.

But I am sure all of this is Labors fault lol.

Read more: http://www.smh.com.au/federal-politics/political-news/hockey-to-expose-labor-debt-damage-20131216-2z...

[donnashuggy]

I think it is fair to say that Hockey is accountable from now on.

[polksaladallie]

Today's announcement is expected to reveal a 50 billion deficit.  

If they dump the 22 billion parental leave scheme for the wealthy, including millionaires, that should solve some of the problem, and they can blame Labor.  I don't care, just dump it.  

[debra9275]

I thought we were doing OK not so long ago with our triple A rating and all.  I't's about time this current govt took responsibility instead of blaming the past govt for every shortcoming and i agree with polksa's post

[polksaladallie]

Another broken promise today.  Boat buy-back plan has been scrapped.  But the money is going into TV messages instead.

[just_me_karen]

More lib hypocrisy. They whinged and moaned when labor had ads to deter the boats.

[clair.de.lune]

Hello Donna I'm doing *bling* posts today