Speaking in London, Mr Hockey said that by Western standards the highly constrained public safety net in Hong Kong and other Asian places might seem brutal ''but it works and it is financially sustainable''.
''Contrast this with what we find in Europe, the United Kingdom and the United States. All of them have enormous entitlement systems spanning education, health, income support, retirement benefits, unemployment benefits.''
Australia spends less than half as a percentage of GDP compared to those above, is Hockey suggesting that we should drop back to almost no welfare like ASIA rather encourage under developed countries to aspire to become like us.
"What should we do, become like them!"
Government revenues fell far short of meeting the cost and the difference had to be made up by borrowing he claims, which is debatable.
He said that over the years there had been some key decisions to reduce spending, Mr Hockey said it still had ''a lot of spending by government which many voters see as their entitlement''.
I wonder Joe, do you mean middle to wealthy welfare which you guys brought in.
He said a lower level of entitlement meant countries were free to allow business and individuals to be successful. ''It reduces taxation, meaning individuals spend less of their time working for the state, and more of their time working for themselves and their family.''
Joe I must be stupid, if we have much less welfare we will have to work more just to cover the basic needs, wouldn't that mean less time with the family etc.
The present government would like to reduce it, that's obvious, who is opposing such cuts, the coalition of course.
No Joe, you can't have it both ways.
Apart from supporting budget crackdowns on the proliferation of such benefits as the disability support pension, it has opposed any move by the government to go after so-called middle-class welfare, moves the government says are vital to keep spending sustainable.
Measures which created structural deficits such as the private health insurance rebate, the baby bonus or the family tax benefit system have been capped or means tested by Labor and the Coalition has opposed or criticised all of them.
Sure there is to much middle class welfare, guess what Joe Hockey, you gave it to them, will you cut it out, not likely, there's votes in them there hills