A new left-wing government in Australia has begun with a decidedly unliberal approach to economic policy — proposing a budget based on deep cuts in spending and taxes. U.S. officials, who are headed in the other direction with a stimulus package likely to increase the federal deficit by at least $100 billion this year, had their first chance to hear about the novel Australian approach to the recent global economic turmoil during a first visit to Washington yesterday by Australian Foreign Minister Stephen Smith. (Washington Times, Tuesday)
Another subversive left-wing government!
FEE Timely Classic
Inflation and Unemployment by Hans F. Sennholz