Prime Minister Menzies was never pilloried for running seventeen successive deficits and risking burdening my generation with onerous amounts of debt.
Times changed and deficits became taboo.
The latest budget shows deficits are here to stay. Even the uncertain projections of later years reveal deficits.
The talk is now of having a creditable path to a surplus.
Arguably the more pressing need is to find a credible path to credibility.
Never has there been such a radical shift from one budget to the next, from fixing a debt and deficit disaster to living with a wing and a prayer twelve months later.
The Budget is predominantly a political reaction not an economic plan.