Lindsay Tanner knows the truth, and lets it slip among the usual spin in a 7.30 report interview;

"Forecasting is difficult and it's particularly difficult at the moment and there's always going to be a margin for error," he said.

The truth is that treasury forecast figures are indeed crazily optimistic and if they are doing their job we will see them revised within 6 months.

But I fear that with Henry Labor love we wont see any shift in thinking until after the next federal election. Whenever that is?

ALP Federal Finance Minister Lindsay Tanner seems a bit confused over the benefits of the Stimulus packages.

First he claims a victory;

"The retail trade figures today demonstrate both that the government strategy is working and just how vacuous and empty the response from the Liberal opposition is," Mr Tanner told reporters in Sydney on Wednesday.

Then two days later we see pessimism;

“We’re pushing back as hard as we can against these very powerful negative forces from the international economy. But those forces are so powerful that no government can effectively wipe them all out.” Mr Tanner said.

So we go a full two days of working government strategy, and all for the low low cost of 6 years of Deficit and 200 Billion dollars worth of debt.

What an amazing deal this Labor government did for us Aussies...

How are our leaders doing prior to this next budget, hows the nerves fellas?

Kevin Rudd:

Australian Prime Minister Kevin Rudd said a shortfall in tax receipts will be greater than A$115 billion ($82 billion) the government forecast in February.

“More than two-thirds of the deficit is a result of a collapse in taxation revenues,” Rudd, 51, told Melbourne Radio 3AW. “We have said there has been a A$115 billion collapse in taxation revenues and with these new growth figures from around the world, there will be a greater reduction in taxation revenues.”

Well dur... So maybe if you hadn't listened to the IMF back in November, running around claiming "China will save us!".

You most definitely should not have thrown $100 billion in extra spending during the last year, otherwise you may have found some sympathy. But all your telling us is, your acts are having as bad an effect on our economy as the world recession. Nice call.

Wayne Swan:

The Treasurer, using his most pessimistic language to date to describe the budget 2009 position, said China's growth report "provides stark evidence of the impact of the global recession on the mining boom, which supercharged Australia's economy in recent years".

"The simple fact is that a global recession, and deep downturns for our key trading partners, make it certain that our own forecasts for growth and revenue in the budget will be substantially worse than in UEFO," Mr Swan said, referring to the updated economic and fiscal outlook published by Treasury just two months ago.

I think Wayne has lost his mantra of keeping "the surplus in the positive over the cycle" unless he always meant the cycle was over 100 years, he never did clarify that did he.

Lindsay Tanner:

Mr Tanner said it remained 'yet to be seen' whether the government would exceed the $200 billion debt limit it set as part of its February economic stimulus package.

'We have yet to finalise our projections of the loss of revenue that this further deterioration of the global economy will be imposing on the Australian economy and the Australian budget,' Mr Tanner told ABC Radio on Thursday.

He said the latest forecasts released overnight by the International Monetary Fund (IMF) indicated a more severe collapse in government revenue than the forecast fall of $115 billion in tax receipts revealed in February.

'It's pretty clear from these figures that we'll see even bigger deficits as a result of that change,' Mr Tanner said.

Of course it would be nothing to do with the Rudd governments inability to make tough and unpopular decision for the sake of our future prosperity, would it, say on things like;

A $43 Billion dollar Broadband roll-out. The 43 Billion dollar amount is of course pre budget blowout, so expect more of a 50 Billion+ hole in the upcoming budgets.

Australia's biggest military build-up since World War II, led by a multi-billion-dollar investment in maritime defence, including 100 new F-35 fighters, a doubling of the submarine fleet, and powerful new surface warships. With a expected end bill of $100 Billion dollars.

The reestablishment of ATSIC where: A substantial majority of participants said they wanted a fund established to give the body a capital base, and wanted the body to be set up through a future fund financed via a percentage of mining tax receipts.

and we are yet to see the governments position on Paid maternity leave, first home buyers, etc. In fact the only thing we know for certain is that the Tax base will have a known hit as pensions are increased. Thats a good idea in my opinion.

But something has to give in the budget or we will end up with the $300 Billion dollar black hole we are being softened up for.

Federal Finance Minister Lindsay Tanner says the Government's debt burden keeps him awake at night.

Good. So you'll stop spending then? Coz it's unhealthy to stay up all night.

Mr Tanner says he has been thinking about the maximum level of debt the Government is prepared to accept.

"I'd have to say that we are a long way away from where that point might be and I wouldn't necessarily put a figure on it," he said.

Oh Jesus! Lindsay Tanner is a Freakin Budget Vampire!!

If it wasn't so dreadful it would be laughable. The mates and cronies of the Labor party, and there are a lot of the buggers, have been found with their snouts well and truly in the trough.

How anyone can defend the Rudd governments spending of such en enormous amount of money on consultants, while the Public service scrapes and scrips to make a 2% efficiency dividend, well its beyond me, but not Faulkner. 

Special Minister of State John Faulkner has rejected claims the Government prefers contracting outside consultants over public servants for policy development.

The Australian Financial Review today reported that since coming to office, the Rudd Government has awarded $553 million worth of consultancy contracts, mainly in the areas of health, broadband, regulation, climate change and education.

It estimates the spending is putting the Government on target to become the highest ever spender on outsourced advisers.

Maybe Tanner could pipe up now to explain this load of clap trap he spouted about the Rudd governments first budget...

Mr Tanner said the Government was now engaged in a "serious search for additional savings". This was never easy, especially as it had been "a long time since serious rigor had been applied to the budget".

"We will inevitably get pressure from government agencies and the wider community," he said. "But we have to be tough."

Labor had inherited an "unstable situation" from the Liberals, with their unsustainable spending spree, he said. That had to be stabilised.

With $553 million worth of consultancy contracts I don't think anythings been stabilised.