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May 13th, 2012 
FAKE NEWS for the Zionist agenda Finance Minister Penny Wong says the federal government is prepared to make more spending cuts to keep its pledge for a budget surplus in 2012/13.
Senator Wong says a surplus is insurance for the local economy amid ongoing uncertainty over the global economy and concerns about Europe.
“You do need a buffer at this time given where the global economy is,” she said.
In Treasurer Wayne Swan’s fifth budget on Tuesday, the government said it aimed to deliver a $1.5 billion surplus in 2012/13 – a turnaround from the forecast $44.4 billion deficit for this financial year.
“The government is willing to take further measures, ie: further savings in order to protect the bottom line,” Senator Wong told Sky News on Sunday.
She said the government had found savings as revenue forecasts had been lowered by $10 billion from the mid-year review in November 2011.
“So what we have done in both the mid-year update and subsequently is to find budget savings to protect the bottom line, not just in 12/13 but also in the forward estimates, ensuring the budget surplus continues to grow,” Senator Wong said.
A surplus was the right setting for the overall local economy with the changes occurring within it from factors such as the mining boom, Senator Wong said.
“It gives the Reserve Bank room to move and all the positive consequences of rates cuts have already been seen,” she said.
The increase in payments to low- and middle-income families was for those not in the “mining fast lane”, Senator Wong said.
“The majority of the assistance goes quite rightly to low income Australians,” she said.
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