"Temporary Deficit"

[Squawk]

Dictionary.com defines temporary as follows:

1. impermanent, passing. Temporary, transient, transitory agree in referring to that which is not lasting or permanent. Temporary implies an arrangement established with no thought of continuance but with the idea of being changed soon: a temporary structure.

How long can we expect a 'temporary deficit' to last? I am yet to hear a proposed timeframe - but a guideline would be nice. 5 years? 10 years?

Inevitably, revenue will have to be increased and expenditure decreased. Will we have 'temporary tax increases' and 'temporary welfare cuts' and 'temporary job losses' entering the political vernacular as well?

[gadj1976]

Not trying to back anyone up on this, but having a "permanent" job with an organisation these days is similar in nature. That being that anything temporary or permanent is only as temporary or permanent as the person/organisation believes that to be.

[Squawk]

http://www.news.com.au/adelaidenow/story/0,22606,25374036-5006301,00.html

THE boost to the first home owners grant will not be extended beyond June 30, Prime Minister Kevin Rudd has suggested.

"The first home owner's boost, as you know, we have indicated that will conclude within a very fixed and finite time frame," he told reporters in Perth today. (Sounds like a temporary boost, so I assume that the deficit will be addressed within a very fixed and finite time frame as well?).

"It's had strong useful results so far, but I have got to say all good things must come to an end." (- like an inherited surplus?)