Thursday, July 12, 2012

Life in "Progress" Country - Spain edition

Something I find so comical about your average lefty is how the hate Americans with a Euro ancestry but seem to want to hold Europe up as the example as to how our government needs to operate.

As Marty Brennaman might ask "How we lookin'?"

And the answer......... "Not good".............

Prime Minister Mariano Rajoy announced a swathe of new taxes and spending cuts on Wednesday designed to slash 65 billion euros from the budget deficit by 2014 as recession-plagued Spain struggles to meet tough targets agreed with Europe.

Rajoy, of the center-right People's Party, proposed a 3-point hike in the main rate of Value Added Tax on goods and services to 21 percent, and outlined cuts in unemployment [cnbc explains] benefit and civil service pay and perks in a parliamentary speech interrupted by jeers and boos from the opposition.

"These measures are not pleasant, but they are necessary. Our public spending exceeds our income by tens of billions of euros," Rajoy told parliament.

He also announced new indirect taxes on energy, plans to privatize ports, airports and rail assets, and a reversal of property tax breaks that his party had restored last December.

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