Butch and other 'Usual Suspects', your howls of indignation and claims of pending disaster regarding the previous Labor Governments economic management are not supported by the facts. Under Labor, Australia enjoyed a stable AAA credit rating from all the Worlds leading Credit Rating Agencies, rare amongst nations. Hopefully under the Abbott government Australia might continue in the same vain, that is, a AAA rating. Obviously the cry's of pending disaster from the Conservatives before the election were nothing more than a legitimate political tactic, and that is politics.

http://www.tradingeconomics.com/australia/rating

This budget has exposed one of two things, either this government has fallen for it own pre-election propaganda about the economy, or they are so philosophically driven, that nothing less than a total realignment of Australia's internal economic and social structure will appease them. Given the political nature of the present conservative regime I suspect it is the latter. With this government, ordinary Australian's can kiss goodbye the notions that we are a caring people, intent on supporting each other in a fair and equitable way. With Abbott its going to be dog eat dog, and a case of every man for himself!

For gods sake, the budget has not cut anything. All it is trying to do is reduce the rate of growth in spending on everything, that that sweetheart Gillard locked in as a trap to injure the government that followed her.

The sweet lady new she was gone, after being the worst prime minister we have ever had, & vindictive bitch she is, locked in as much trouble for her successor as she could.

She did not give a damn that people were going to expect her pie in the sky promises of milk & honey to come to pass, when in fact there was never any chance we could afford to keep them.

Millions are hurt, & others are bitching watching their projected feather bead is dragged out from under them.

One can only have disgust for Gillard, & the current Labor lot who pretend the promises could be kept without Oz becoming the next Greece. If you think we have pain, look at the pain the Mediterranean countries have due to lack of practical budgeting for too long.

Time for the handout generation to grow up.

locked in as much trouble for her successor as she could.
Hasbeen,
I wonder if there'd be a way to explain this to the morons ?

The big issue in the long run is the attempt by the government to cut $80 billion from the States, money desperately need for hospitals, transport and education. In this way Abbott will force the States to seek an increase in the GST, somewhere in the order of 50%. Raising the tax to 15% and extending it to cover everything including the presently untaxed foods.

http://www.smh.com.au/business/federal-budget/joe-hockey-daring-states-to-ask-for-a-rise-in-the-gst-says-labor-20140514-zrbwl.html

This would be a disaster for low and middle income earners, who are struggling at the moment and look as though they are going to be pushed even deeper into debt when other budget increases and benefit cuts kick in.

You have all got it wrong !
Both parties + the Greens just do not understand what is going on under the water.
They have been told many times, even by their own departments but
just cannot believe it, so to protect their sanity they just ignore
the real problem.

The real problem of course is the effect of rising energy costs on the
GDP of most countries. They have been warned of a problem around 2017
but that will be beyond the next election.

Which ever party is in power we will be in for substantial problems, it
is just that the nature of the problems will have a different slant
depending on who is in power. For instance if Labour gets back in
the debt will become so huge that it can never be repaid, so our
creditors will be faced with the choice of forgiving the debt or
taking over the countrey.
So as much of the debt is owed to China, they would probably take
land in exchange. Quite a simple solution actually and would avoid
the Liberal alternative which would be to sell it to China anyway.

Frankly until both parties + the greens face up to this problem there
is no real solution available as their economics are based on a
twentyeth century economics model of cheap energy.

Ok Paul, let me ask you some VERY SIMPLE questions,
Do you think we would have held our AAA rating, had labor continued along their path?

Now before you HOPEFULLY answer that, you must remember, the boats would still be coming.

Next question. Given we had a AAA rating when Howard left, $20billion in the bank and ZERO debt. At what point do you suppose we will loose that AAA rating?

Do you think comparing us with other nations is anything other than a gauge?

I say this, because debt is debt and, if the debt can not be reduced, it will one day consume the asset.

Finally Paul, how do you suggest we repay debt, or, more importantly, when should we start repaying debt, because energy prices will increase, Ford looks like cutting early, so jobs will be scarce.

Any suggestions