Libs have never been good at economics it's called a mortgage. Everyone understands you pay off your debt (mortgage) over time.
This bullshit about 'we're going to have the budget back in surplus by year x' is rubbish, both sides say that crap because it appeals to a few idiots so good luck to them.
Those idiots understand basic economics. For example: Everyone understands you pay off your debt (mortgage) over time. Yes, but these people are compounding the interest and borrowing more to make the repayments. They have NO plan, in any form, to repay the debt.
Plus, you cannot sustain an economy where you are borrowing money to pay your day to day services.
Debt is OK to pay for infrastructure where you service the debt or end up earning revenue to service, and eventually repay, the debt.
This mob relied on forecasts to justify their future expenses and, as we have found out, was based on a falsehood, same as the procurement savings.
Herein lies the problem with people swallowing the Labor crap that we can keep spending and not worry about repaying the debt. It's someone else's problem and shouldn't have to ensure some pain now. Absolute typical Labor economic doctrine. Spend it all and let someone else do the hard years and clean our mess up. Problem is, they cant keep blaming the GFC like they have been doing for years.
Predictions for the next 4 years:
1. The budget deficit will only get worse and they will never get it back to surplus
2. The debt will increase exponentially (it has already increased since the last admission but Labor have hidden it)
3. Higher public service numbers, because they have to bow to the union demands, costing more money and running up an even bigger deficit and debt.
4. Workcover will not be fixed. According to Weatherill and Rau, they are going to cut the unfunded liability of $1.4b with a stroke of a pen in 2015 so let's see what happens in real life now the unions can re-open hostilities with the government. Foley tried to reform it but had to accede to the unions who threatened to lynch him (literally).
But, the stupid people of SA have fallen for the biggest con job again and they will get what they deserve.
Prediction number 5. Jimmy to continue whinging about everything labor does until he self implodes.