Hockey starts with cut and thrust

Updated April 19 2018 - 8:27am, first published December 19 2013 - 3:00am

Treasurer Joe Hockey has just revealed, with great fanfare, that the budget deficit over the next four years is estimated at $123 billion, and the total government gross debt $460 billion. Had we been talking about one of those ''southern-European countries'' we would probably be referring to them as ''having been living beyond their means''. But, because we are talking about Australia we just refer to those figures as the result of the reckless policies of the previous government.

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