Tuesday, May 3, 2016

Australians Face Lip Service and Frustration Over Budget

Australian socialists have no chance balancing their budget as the crisis hits. Australians, after realizing the futility of raising taxes as the global economy contracts to 'balance the budget', the same mistake Hubert Hoover made in the early stages of the Great Depression, will vote out the socialists after 2017. Until then, they will endure endless rounds of lip service and frustration as capital flees the Australian Dollar.

Headline: Australian budget cuts tax for SMEs, middle income earners ahead of federal election

Australian Treasurer Scott Morrison has delivered a budget focused on the backbone of Australia's economy — small and medium-sized businesses (SMEs) and middle-income earners — just days before Prime Minister Malcolm Turbull is expected to call an election.

The budget came after the Reserve Bank of Australia stole Morrison's thunder on Tuesday with a surprise 25 basis-point cut to the cash rate to a new all-time low of 1.75 percent, with the central bank citing surprisingly low inflation.



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