United States government averts shutdown

Faced with a huge 1.5 trillion dollar deficit  American politicians have been trying to come up with budget cuts  and  avert a government shut down. After much huffing and puffing they agreed to a $38 billion cut. Theres's much discussion in the blogosphere on the worth of these reductions.  In my view theres only one real important question to ask_ Will the cuts return the budget to surplus in a reasonable period, say five years? If the answer is no , then its a failure.  Certainly  Peter Schiff is not very happy. Might be a good time to buy precious metals.

Joe's response to Swan

Joe Hockey managed to produce the following response to Treasurer's Swan's budget in record time. Worth seeing.

Treasurer Ralph's first budget

Treasurer Ralph has used the Australian's Instabudget game to plan the next Federal budget. He has slashed taxes, chopped spending but still managed a surplus. Media reaction to Treasurer Ralph's budget is here. If you think you an do better have a go and let me know.