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Treasurer John Frydenberg delivering the 2022 Federal Budget in Parliament, flanked by the prime minister and deputy prime minister
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Treasurer John Frydenberg delivers the 2022-23 budget (photo AAP)

Rate hikes threaten to gobble up federal budget servings

The parallels between the Australian Government’s annual deficits and mortgage borrowers on the brink of financial stress are striking, highlighted by data released on the same day Treasurer Josh Frydenberg delivered his federal budget.

As the latest $99.2 billion annual deficit pushed debt to a re…