Matias Korman, page-4

The Treasury figures clearly show that Labor had received $70B more than Howard's last year. The PROBLEM was Labor was spending $100B more than Howard. So there quite simply is your underlying deficit of $30B per annum thanks to overspending by Labor. In addition, Treasury figures show, in no small part because of Labor policies, that this $30B deficit will quickly turn into an annual deficit of $60B. Since expenditure is around $400B per annum that equates to a 15% deficit every year it is allowed to continue.

Now that is a BIG PROBLEM that will quickly turn into an EMERGENCY.

As for Whitlam, yes he was a highly intelligent and charismatic man. Personally, I like him. BUT his financial and administrative MISmanagement was at a level rarely seen in western democracies. Well until Rudd and Gillard came along...and now possibly Abbott though I will give him more than just 11 months to prove his worth.