Even as the coalition sharpened its axe to take a swipe at spending and borrowing, the idea was to endure a few years of pain before normal play was resumed, in good time for the 2015 election, when voters could get back to the traditional task of deciding which party's goody bag was the most appealing.

BBC: Economy: bonds, austerity, debt and the Age of Plenty

It is a sad indictment of Republican short-sightedness that all discussion of creating the flatter, simpler tax system that the party is supposed to favour has given way to squabbling over a grab-bag of politically-appealing goodies.

ECONOMIST: The truth about taxes

So, depending on the party you are attending and what foundation outfit you are already wearing to work, throw into your bag a pair of large, costume-jewelry earrings.

WSJ: Tina Gaudoin on Style: Don We Now Our Gay Apparel