Let’s see if I have this right. There is a ‘budget emergency’ that’s entirely the fault of the Rudd/Gillard/Rudd government, before which the administration of the Australian economy was marked by unmitigated fiscal rectitude. But now, unless we ‘structurally reform’ the economy by slashing spending and greatly increasing revenue, we will all die a lingering, painful death after which everything we know will be swept into a black hole.