Michael McLaren has explained why Australia is becoming increasingly unprepared, as experts point out that the budget has no built-in buffers for emergencies.

The Afternoons host warns what this will mean for the public as successive governments focus less on reducing debt and more on spending.

“Are we OK with saddling our children and grandchildren with one or two or three trillion dollars in debt just to maintain our lifestyles?” he questioned.

Listen to more highlights from Afternoons below:

Image: Hilary Wardhaugh/Getty Images