Tag Archives: creative accounting

About The May ‘Surplus’ Budget – “It Won’t Actually Be Achieved, Of Course”

4 Apr

Alan Kohler points to the Emperor’s Clothes:

If Treasurer Wayne Swan and Treasury Secretary Martin Parkinson really do pull off a surplus in the 2012-13 budget it will be an incredible achievement.

It won’t actually be achieved, of course, when we come to look back on 2012-13 in hindsight, because it is bound to contain over-optimistic projections…

Indeed.

Just like last year’s ridiculous budget.

But just watch, dear reader.

Watch Wayne and friends – that is, the mainstream media – crow and pontificate and hail the magnificent “return to surplus”, “as promised”, under “extremely difficult” economic circumstances, come May the 8th, 2012.

An “on paper” forecast surplus, that has not a snowflake’s chance in hell of actually being delivered, come June 30 2013.

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