President Barack Obama Message Board

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Politics : President Barack Obama

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To: tejek who wrote (125536)	10/28/2012 8:51:40 PM
From: mel221	Read Replies (1) of 149317

>> Tell me what are the fiscal actions that Spain did to get into trouble? Bottom line... Deficit spending. Not enough revenue to fulfill their social spending commitments. Silly social commitments like their rules on early retirement. Prime Minister Mariano Rajoy is completing new rules that mean banks won’t be able to fire employees aged over 50 and count on the state paying them two years unemployment benefit before they take early retirement and a state pension. go.bloomberg.com A nation that gives state pensions to 50 year olds and lasts for many decades is going to have deficit problems eventually. There are many other examples. >> Austerity may not have caused the problems but its not the solution either. The best solution is to wish it never happened. The next best solution is to get free money from someone else. (the current plan) The last solution is the only real option which is to live within one's means.

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