The front man may have changed, but nothing worth a damn has changed here - same party policies and priorities. We don't really have much government debt, just 10% of GDP. The problem was, back in 2008 at the last crash, we should have let the banks fail instead of bailing them out - forcing the taxpayer to now pay for the incessant speculative gambling on derivatives that got the banks in trouble in the first place. Did they learn? No! It has increased exponentially since then as the graphs show. Now our total debt is around the A$3trillion mark and who's in charge? Mr "Goldman Sachs" Turnbull. It's actually quite clear who rules the country on all three sides of parliament... the un-elected German Queen of the British Empire!
Now, dogtowner mentioned we should grow the economy. In recent times, our politicians have been saying they will do this (far, far too late!); the problem is the Way they plan to do this, which will Only benefit the private banks. The proposed methods all hinge around the very Fascist idea of using PPPs, whereby the banks & wealthy private individuals profit, whilst the taxpayer wears the risk. Nice one! Mr "Goldman Sachs" Turnbull will really swell the hip pockets of all his banking mates with that one! In fact, the city of Sydney is largely modeled on this already - unavoidable toll roads everywhere and using rail and airports gives 20%+ to the banks on every "user who pays". The "user pays" system must go! It has been shown we cannot grow an economy this way.
So I believe dogtowner means we should grow our economy using The American System. Now this has not only succeeded without fail in America, but everywhere all over the world it was properly used for any descent period of time, including right here. At least twice in our short history, the last being the Curtain - Chiefly era of WW2, just before Menzies shut it all down and made sure it would never ever come back again (they took the Ben Chiefly government to court in London and won!). I believe we can bring it back, but it will take enormous political guts - even more than old Gough could muster, but there is hope now in England. Jeremy Corbyn is the new true Labour leader there and once he wins government, it will open up many opportunities that haven't been presented since the war. There is also hope with China's AIIB, if we only had a pro-China government here!