Federal budget 2010-11 – a sad document
Tonight the Federal Treasurer delivered his third budget and it was a disappointing effort. The worst line in his speech was “Best of all, the unemployment rate is expected to fall further from 5.3 per cent today to 4¾ per cent by mid-2012, around the level consistent with full employment”. So their aspirations are that low. There was also nonsensical statements about the government not being able to afford to “invest in skills, infrastructure, renewable energy and hospitals” unless new tax measures were found. There is also some stupid fiscal rules introduced which will not stand scrutiny if Europe melts down and a new crisis emerges. The following is a 550-word Op Ed commentary I wrote for the local Fairfax press. The word limit and the audience constrain what I have to say and how I said it.