Big spending election budget to woo voters - but can $1 tr debt be reined in without austerity?

This Budget delivers on almost all expectations. 

It's politically smart document with a May election around the corner and full of sweeteners headlined by the temporary 50 percent cut to the fuel excise (as expected) and a range of cash splashes to woo jaded voters.

But with the economic outlook rosy – especially with 3.75 percent unemployment, inflation getting back under control even optimism about wages growth – now comes the hard part. 

Deficits as far as the eye can see though lower at $78 billion this year falling to $43 billion by 2025 – the fastest 4 year improvement in 70 years.

Still , that pre pandemic Coalition mantra of surpluses and getting back in black remains elusive.

But that's not such a bad thing - I speak with  independent economist Nicki Hutley.