australia is greece of asia, page-14

Actually Howard and Costello spent the proceeds of the boom and it wasn't the biggest economic boom in Australia's history, check your history.

The Howard liberal government spent every extra cent they got from the boom and gave massive cuts and billions in middle class welfare to buy votes. The problem labour faced was that all the spending programs were in place from the liberals but the revenue went away. Labour didn't cut the programs and brother neither have the Abbott government as its political suicide.

Besides massive spending cuts does bot solve the economic problem, it makes it worse except for a minority.

As for us being Greece. Greece only has one problem. Nobody in Greece paid taxes as they were all corrupt. For example: Prior to the collapse only 5% of Greek doctors paid income tax because apparently the rest don't earn enough! All successful and rich countries have an efficient and well maintained tax system. This has been the case since we have had civilisations. Countries that don't collapse.