Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Hansard source

We must deal with Labor's debt and deficit disaster. It is as simple as that. We must deal with Labor's debt and deficit disaster. When members opposite were in government they gave us the six biggest deficits in Australia's history. They gave us debt and deficit stretching out as far as the eye can see—$123 billion in prospective deficits over four years, debt peaking at $667 billion.

See this speech in context