About Tony Abbott: we hate to say 'We told you so', but ...

On economic management, the mainstream media praised fulsomely the Coalition's credentials. An Australian Financial Review editorial on election eve soothed,

'A strong mandate at the top, especially for a government getting a grip on its own finances, will lift business resolve. That by itself is a good reason for The Australian Financial Review to conclude Australia's prosperity would be better served by a Coalition government.'

The Daily Telegraphconcurred:

'Abbott's campaign shows a party and a leader advancing confidently and with calm authority towards power. A Coalition win on Saturday should immediately lead to action, especially by providing a shot in the arm for business and investment ... But the men and women who are best able to deliver it come from the Coalition.'

This has not turned out as the mainstream predicted. The new media, instead, got it right.

Crikeywarnedbefore the election that the Coalition could not:

'resolve the tension between Joe Hockey's insistence on fiscal rigour and Tony Abbott's "everyone comes out ahead" magic pudding approach to the budget'.

Independent Australiaalertedits readers to the specific risks:

'There are seven compelling reasons why handing the economy over to Tony Abbott and Joe Hockey will almost certainly see a dramatic deterioration in Australia's fortunes.'

Six out of those seven threats to Australia's economic wellbeing have come to pass. Already. After just one budget. (Fortunately, the global recovery has continued and Australia has not slipped into recession – although growth is now slowingalarmingly.)

On economic management also, the mainstream media are grinding their gears into reverse. Friday's editorial in The Australian concededthat,

'Joe Hockey's first budget is in tatters, drained of blood and purpose in the Senate, a casualty of political sloppiness, poor preparatory messaging and internal inconsistencies. The Treasurer is neither a skilled policy expert nor a fierce advocate, so has struggled to make the case to voters or the business community about the government's overarching fiscal strategy.'