Bowen sets sail for distant Surplus

Treasurer Chris Bowen has framed a sobering – and, on form, probably unreliable – fiscal platform from which to launch a reelection campaign.

It’s a curious platform from which to launch into an election campaign. Growth projections revised down, unemployment rising and accumulated Rudd-Gillard-Rudd deficits that will, if all goes well, reach about $275 billion before the budget is balanced.

In the space of about 2½ months alone, the deficit for this year has blown out by more than $12 billion.

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