Despite the return of growth and no shortage of austerity, the deficit was £1.3bn higher in July than at the same point last year.
Earnings rose by an unusual high of 2.1% in the latest quarter but only because bonuses were paid in April, rather than March, to benefit from the new 45p rate.
The Chancellor boasts in his Times piece that disposable incomes have risen but in the first quarter of this year they fell at the fastest rate since 1987.
Including, this is still the slowest recovery for 100 years, the economy is 3.3% smaller and unemployment hasn't fallen for six months.
Maybe Oborne didn’t notice that the whole basis for the Chancellor’s economic strategy – stemming from work by Carmen Reinhart and Kenneth Rogoff – has been shown to be ruined by spreadsheet errors.
With the return of the economy to growth, the shadow chancellor seeks to shift the terms of the debate in Labour's favour.
Despite no shortage of austerity, borrowing in June 2013 was £0.5bn higher than in the same month last year.
The gap between the rich and the poor has narrowed as real earnings have fallen but the coalition's welfare cuts mean it is set to widen from now on.
By neglecting the early years we risk having to spend more playing catch-up later on.
Institutional reforms can reduce the extent to which short-term tactics trump long-term thinking.