The author, "Like a bitter army retreating from the field of battle with no regard for the civilians left behind, Gillard buried land mines throughout the budget for future ministers and taxpayers to negotiate.

The Abbott government has a responsibility to extract the country from its budget hole. It should not make excuses and say that it is all too hard. Regrettably, that is exactly what it is now doing.

But we need to remember who got us into the budget hole in the first place. Bill Shorten's windy budget reply speech – heavy with spending on free university degrees and increased research and development – shows us how well the ghost of Julia Gillard lingers on."

Very well said!

onthebeach,
"The Abbott government has a responsibility to extract the country from its budget hole."

No it doesn't. The responsibility is to the Australian people, not to a budgetary outcome that would leave the people worse off!

Nice try, runner.

>>Nice try at economics Aidan however can you name one surplus that the Federal Labour party has had in the last 20 years.<<

Running a surplus simply means that the government is extracting more in taxation than it is actually using. This is a sure way to strangle the productive section of the economy by limiting its capability to invest in new jobs, and is a valid strategy only when the economy is overflowing with cash.

And, frankly, not always even then. As we have seen, the end of our personal mineral-fed boom has exposed the "running a surplus" games that Costello played for what they were - nothing but political grandstanding, and impressive only to the economically challenged. What they did gift us was a handful of fat-cat billionaires, who are now bleating pitifully that the government should look after them better. Phooey.

Every government since Keating has used our economy as a political football, instead of crafting responsible, forward-looking policies.

So, runner, can you name one responsible, forward-looking economic policy that has been put in place - or even hinted at - by our present government?

Can anyone remember when USA or Japan last had a budget surplus?

And David, You must know that that the major factor in the budget deficits of the Rudd, Gillard, and Abbott/hockey governments is the the handouts that Howard/Costello gave to themselves and their mates in 2006.

runner,
"Nice try at economics Aidan however can you name one surplus that the Federal Labour party has had in the last 20 years."
Of course I can't, because you've artificially restricted the timeframe. More than half of the last 20 years the Liberals have been in power. Before that Labor had run both surpluses and deficits, and ended with a few deficits. Soon after the Liberals' run ended, we had the GFC, after which it would've been irresponsible to run a surplus. So that only leaves the 2007-08 financial year. Perhaps Labor should've tried harder to run a surplus that year; Kevin Rudd shouldn't've been so quick to make big tax cuts. In fairness to him, though, John Howard had promised equally big tax cuts.

"I take it that you and Labour believe its always good to promise a surplus but never deliver it no matter how good/bad the economy is."
Then you're an imbecile! Unlike you I NEVER EVER outsource my thinking to a political party. Never have, never will. Just because I tend to agree with Labor more than the Libs, Nats, Greens, Puppies or Bobcats doesn't mean I always agree with Labor or approve of what they do.

FWIW I think it's NEVER good to promise a surplus, as changing economic conditions may make it irresponsible to try to deliver one. For this reason I don't regard Wayne Swan as a good treasurer. But Joe Hockey is far worse, largely because he's trying harder to deliver a surplus despite the damage it's causing. And he'll still fail!

Great opinion piece David. I would go further and say great factual recapitulation of a disastrous Federal Government that rooned the nation. It will take decades to undo and recover from Labor's financial incompetence. Yet if one believes the polls, there is a chance Labor could be re-elected. Maybe Australia deserves what it gets!