Overnight Open Thread | Main | Video: Dog Caught in Fence Freed by Police. [dri]
May 26, 2010

Italian Prime Minister: You Know What? This Public Spending Binge We've Been On Is Pretty Much Kicking Our Ass

When your outgo exceeds your income sounded awfully hick, but plain and true, didn't it?

ROME (Dow Jones)--Italy is adopting EUR25 billion in austerity measures because public spending is "no longer sustainable," Prime Minister Silvio Berlusconi said Wednesday at a press conference in Rome.

The expansion of "cradle-to-grave social protections" had triggered uncontrolled spending trends that went beyond serving true needs and now had to be reined in, he said.

His government approved the 2011-12 budget, which includes spending cuts worth that amount on Tuesday evening. The measures should reduce Italy's budget deficit to 2.7% of gross domestic product in 2012, as required by the European Union, Berlusconi said.

At some point you'd like to believe that general government spending (not just the Italian government, let's say, any government.. California, New Jersey, Boogerlump Mississippi) would adjust to the realities of lower top line revenues. Kinda like, oh I don't know, businesses, or families (economically pretty much the same thing) who have lost income and have had to adjust. In good times we tend to let it roll, in bad times we suck it in, that sort of thing.

Perhaps govt. leaders who must do arithmetic with numbers followed by six zeroes are capable of doing the same calculations as those of us who deal with only a zero or two.

You can move the decimal point to the left or right. The math is pretty much the same.

digg this
posted by Dave In Texas at 11:33 PM

| Access Comments

Recent Comments
Skip: "I have no idea if it was better to say or left uns ..."

CrotchetyOldJarhead: "[i]Jews who support Democrats that weaken ISRAEL a ..."

Eromero: "Well, we certainly never had to wonder where ubama ..."

Freedom Fan: "Ace you missed the really hilarious part: NBC is ..."

Nevergiveup: "Hamas leader Ismail Haniyeh welcomes the West Bank ..."

Eromero: "Here it is 24 August 2019 and we have kollege foot ..."

Nevergiveup: "What do you guys think about Trump's comment re: d ..."

Serious Cat: "486 What do you guys think about Trump's comment r ..."

Skip: "There is a article at Powerline on President Trump ..."

AltonJackson: " g'mornin', Ben Had ..."

docweasel: "What do you guys think about Trump's comment re: d ..."

Serious Cat: " Morning all. Can not sleep Posted by: Nevergiveu ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64