This year’s federal budget is tiptoeing around the edge of reality at a pivotal point in history

News Snapshot:

There's a Clayton's budget, the one you're having when you're not really having a budget. And then there's this, the budget you're having when you thought you didn't have to deliver one. Federal budgets over the past few decades have descended into something of a comic farce — full of intrigue, strict high-level security and journalist lock-ups. Except that around 90 per cent of all the revenue and spending plans usually are strategically leaked to friendly media outlets in the weeks and days before. Even so, that's still usually left room for a couple of key initiatives and a blueprint...