Sizing up Hockey’s budget task

To rein in the budget deficit, the Coalition needs to do much more than chip away at Senate obstruction and target the real problem: excessive social spending.

The mid-year budget update has unleashed speculation about what the Abbott government might do to rein in the budget deficit -- and a torrent of both helpful and unhelpful suggestions as to what they should do.

Lacking in all this is an overall monetary target, which is best defined as the annual, ongoing amount of deficit-reducing measures to be reached in the first year after the measures have been fully implemented.

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