Sunday, 20 December 2015

Budgetary Blues

When the Coalition won office they claimed they had inherited a deficit and debt disaster. The Deficit was according to PEFO 1.9% of GDP.
Through some decision they managed to increase this to 2.1% of GDP. We found out in MYEFO the deficit marginally has increased to 2.3% of GDP.
so in office they have managed to allow the deficit to get worse.

Amazing what occurs when the Terms of trade go the wrong way!

No sign of the Liberals wanting to match Wayne Swan and take 0.7 percentage points off GDP with the most austere budget on record, Thank the Lord for that.

Classical economics was always a complete crock