Maybe this is just preparation for the election - following the big box store strategy for sales. 
You know the one I mean, where they mark the prices of stuff up around August/Sept and then have a huge "SALE!!!" in December by "SLASHING PRICES!!!" back to where they were earlier in the year. There is at least one home improvement chain that does this on their tools like clockwork every year.
So now the Libs increase the deficit even more and then come election time "look we are slashing the deficit!!!" Of course while all this is going on they have increased spending where it will buy the most votes and later when the cuts come it will be in places where it will cost them the least votes.