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Deficit Grows With Hockey’s Mid-Year Budget 60% Of Blow Out Due To Hockey – Another Promise Broken

Unknown-1The Liberal-National Coalition promised no surprise, however today there has been big surprises. $10 billion of $17 billion blow down to Joe Hockey’s decisions. 60% of the blow out due to Hockey. The deficit is now up to $47 billion due to the Abbott Government. $167 million a day contributed to the deficit. Hockey has changed forecasting methodology to suit his budget. This is in contrast to Hockey promising to reduce the deficit and the debt of the nation

Hockey wants to create a big deficit to bring more and deeper cuts to Australia. He has done this deliberately. Hockey has said he was left a bad budget by Labor. The figures however state that with a AAA rating.

Unemployment is no also up at 6% going up to 6.25% 2015 and 6.25% 2016.

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