Tom Elliott says almost everybody was a “winner” in the federal budget.

And that’s why he’s concerned.

“If you didn’t get something in the budget, you’ve been shortchanged because Josh Frydenberg was splashing out money like it was going out of style,” the 3AW Drive host said.

Australia’s net debt is expected to peak at nearly a trillion dollars in the next four years.

“At some stage in the future, it will be a problem,” Tom Elliott said.

Press PLAY below to hear Tom’s budget analysis