![image](https://c479107.ssl.cf2.rackcdn.com/files/37948/width496/6y7s28b8-1387248525.jpg)
Federal Treasurer Joe Hockey’s first budget update has revealed a massive blowout to the bottom line and a warning of a decade of deficits ahead.
The government’s Mid-Year Economic and Fiscal Outlook (MYEFO) reveals a deficit for 2013/14 of A$47 billion, with deficits in subsequent years adding up to A$122.7 billion.
With a A$37 billion...
More...