Why Abbott and Hockey owe Gillard and Swan an apology

TONY Abbott and Joe Hockey owe Julia Gillard and, in particular, Wayne Swan a big, fat apology.

For most of the duration of Ms Gillard's tenure as the nation's leader, the Prime Minister and the Treasurer consistently, ferociously and unfairly attacked her and Mr Swan regarding Treasury forecasts which eventually proved too optimistic.

In doing so, they also trashed the public servants who work for the Treasury, the people best placed to make such predictions.

Now it's been revealed slowing world growth and a drop in commodity prices will do to the forecasts Mr Abbott and Mr Hockey used what similar circumstances did to the ones Ms Gillard and Mr Swan used.

The forecasts are wrong. That's the thing with predictions - they're not rock-solid, iron-clad guarantees.

And as Mr Abbott and Mr Hockey can now experience for themselves, global circumstances well outside of their control have a major impact.

It's most ironic the PM and Treasurer not only increased our national debt but also seem poised to preside over a budget blow-out of epic proportions.



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