Andrew, how about the challenge of budget competency?

How about the challenge of budgetary realism, that being to live more within one's means rather than spending money as if it grows on trees.

what makes me laugh about Labor's approach in this new era of difficulty is that they are spending too much in these times of relative prosperity. At least, the Coalition delivered surpluses and a savings fund to meet future liabilities.

Heaven help Australia's debt situation if China slows or the western world returns to recession once they stop printing money.

I mean just switch on Sky News now and listen to Rudd's ramblings, now 100% portraying the Coalition as heartless people void of concerns about Aust's future. If only it was that simple, hey Andrew

....
The problem for the Liberals is that they have spent the past three years saying ‘no’ to Labor’s sensible savings measures.

Don't need to read any more, WHAT A JOKE !

Sorry Andrew, given labors record with figures over the last six years you have no credibility. Your forcasts were reckless and wildy inaccurate. I don't think anyone could believe your assesment of the oppositions costings. Buy the way, what were " Labor’s sensible savings measures" exactly?

....Buy the way, what were " Labor’s sensible savings measures" exactly?

Yes, I was wondering the same thing!

Chris Lewis
I previously thought you understood something about economics and employment.

Australia's unemployment and underemployment is running at about 13%. That represents infrastructure and services gone for ever. Inflation is not a problem at present and won't be until demand starts to press on supply in a booming economy. The sovereign government can spend, without paying interest, on internal labour and materials until the economy gets close to full employment which in the era prior to the ascent of neo-liberal economic nonsense in the seventies was around 3%. The Federal Government could make funds available to the states for essential infrastructure. The states would owe the money to the federal Government which would, in turn owe, it to the Reserve Bank which it owns on our behalf. The Reserve could own or have a mortgage over the infrastructure.

Australia does suffer due to our current account deficit but that requires an industry policy to ensure that essential industries survive. After WW2 Australia developed a white goods industry and boilermaking and machining was prominent in train building and the structural industry. Now most of that is sourced overseas and Australia loses the taxation that was paid by people employed in those industries.

If the steel industry loses the car industry as a customer we will be capable of producing almost nothing physical. You like many of those commenting on economics need to read the blogs and Professor Wray's primer available at New Economic Perspectives.