It ain't the economy, stupid - Australian edition

From The Economist:

Australia's pre-election budget gave away A$31.5 billion ($26 billion) in tax cuts, increased spending across the board—and still accumulated a A$10 billion fiscal surplus. The government is miles behind in the opinion polls.

Quite a trick to pull, and you must be wondering why there's no applause from the audience. Blame adaptive expectations in a country growing for 16 years in a row.