DEBT. NOT SO BAD AFTER ALL?

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.

hockey-corman-carouselTreasurer 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 …

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