ABC News has published a neat primer on the Budget, which argues that the deficit has been driven by so-called unexpected falls in receipts – most notably from lower commodity prices (mainly iron ore) – rather than spending decisions taken by past and present governments:
The budget papers once predicted a $5 billion surplus for the 2013-14 financial year. The final result was a $49 billion deficit, according to the budget Treasurer Joe Hockey handed down last week.