Budget emergency. Debt binge. Irresponsible management. The Coalition will live within its means.
These were Joe Hockey’s mantras before the federal election; now it seems that debt isn’t such a bad thing after all.
Yesterday Treasurer Joe Hockey has announced he will seek to increase Australia’s debt ceiling from $300 billion to $500 billion. But he also said a National Commission of Audit would help to reduce Australia’s debt.Treasurer Joe Hockey and finance minister Mathias Corman. Image via afr.com.au
Mr Hockey said the sharp increase in the debt limit was necessary because of ”the legacy of a bad Labor government”. Before the election, debt …