$100bn hit to deepen debt crisis

http://www.theaustralian.com.au/national-affairs/treasury/100bn-hit-to-deepen-budget-debt-crisis/news-story/c96c89e7f21594c3ae75c871e2c8a801

Australia’s debt could blow out by more than $100 billion if the budget is wrong in its prediction that the economy will return to pre-crisis growth and the ­Turnbull government is unable to win Senate support for all of its outstanding savings ­measures.
And what are the chances of that!?

“Consistently since 2011, Australia has budgeted that things wouldn’t get worse in China and that there would be enough bipartisanship to pass things in the Senate,”
“In practice, neither of those two things has come to pass and the risk is that it stays that way. China has disappointed and so has bipartisanship.”
Well yes, that has happened, hasn’t it?
Both Turnbull and Shorten have to accept responsibility for this. Shorten is simply an economy wrecker. Better he is wrecking from opposition though where his wrecking power is defensive and not offensive. Heaven help Australia socially and economically if he gets into power.
Turnbull needed to be more frugal with the budget which required more guts than he has. And then there is the overstated growth projection that this government adopted. Just because Swan did this when Labor was in power is no excuse. The Coalition knew it was wrong then and it’s still wrong now.

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