Federal Treasurer Wayne Swan has defended the government's new-found liking for a budget deficit, saying doing otherwise is irresponsible.
The government admitted, for the first time, on Wednesday that it was willing to let its budget fall into deficit to stave off the effects of the global financial crisis.
Mr Swan said a deficit was necessary "right now" because the government continued to project modest growth and modest surpluses.
"But it would be irresponsible to rule it out," he told ABC Radio.
All the risks for the economy were on the downside, and that will have an impact on revenue and employment.
The government would be looking for savings during its budget process next year, Mr Swan said.
However, Opposition Leader Malcolm Turnbull says Labor governments can't say no when it comes to spending.
Ultimately, they run up a lot of debt and get into trouble, he said.
"If all the government does is spend, spend, spend, if it doesn't say no to anybody or anything, ultimately you run up a lot of debt and that's where Labor governments have historically gotten themselves into a lot of difficulties," Mr Turnbull told Fairfax Radio Network.
Economic management needed discipline and judgment from which the government was seeking a leave pass by allowing the budget to go into deficit, he said.
