Despite months trailing in the polls and obvious pressure from fresh-faced Opposition leader, Kevin Rudd, many commentators now believe this week's budget has once again put the Howard Government in an election winning position.

Depending on the outcome of voter polls in coming weeks, there is now speculation Mr Howard could call an election as early as August rather than November, as widely favoured until this week.

Chris Richardson, from economic think tank, Access Economics, probably nailed this week's budget on the head when he said "if you breathe, there'll be something in it for you".

And for the general public, that's just about right, with tax cuts, unprecedented education spending, huge funding earmarked for transport and a wide range of cash payments and incentives for pensioners, students, carers, mums and dads and migrants….and the list could go on.

The rabbit was well and truly pulled from the hat with Peter Costello's education "bonanza" – smacking Labor's education revolution policy in the head with an unprecedented $5 billion straight up for a perpetual tertiary endowment fund, plus billions more to lift literacy and numeracy levels, improve teacher training and free up university place restrictions.

Even farmers saw some new initiatives with the environmental stewardship program, finally recognising the care, time, effort and cost that farmers annually pump into protecting conservation areas the public think precious.

While the green lobby has been disappointed, it's a bit rich to say the environment missed out, with the first funding details unveiled for the Prime Minister's $10 billion water plan, the continuation of National Heritage Trust and Landcare programs, and $4.3 billion in various initiatives to tackle climate change.

Many are now asking how Kevin Rudd's breathing is this week, and just how he'll cope in the polls after a budget so broad in its benefits.

With plenty of money in the piggy bank for some serious pork barrelling on the journey to the ballot box, marginal seats will undoubtedly enjoy more spending on surprise initiatives not costed in the budget.

Kevin Rudd is going to now do his best to convince voters this year's budget "failed to meet the future test" because it didn't adequately address telecommunications or broadband technology, and dipped out on climate change by instead spreading the money among all and sundry.

But in an election year, did anyone expect anything less?