Thursday, September 30, 2010

In Portugal, Social Democrats = Tax Cutters

Let's hope when the deficit problems start making headline news here in the states that the center-right Social Democrats of Portugal send up a case of whatever they are drinking to U.S. Congressional Democrats.

In Portugal, with a severe budget crisis, Social Democrats are calling for smaller government and spending cuts, as opposed to higher taxes.

Roubini Global Economics reports:

Portugal's center-right opposition has refused to back the 2011 budget. After a meeting with President Anibal Cavaco Silva, leaders of the Social Democrats said they were open to talks if the minority Socialist government agreed to cut spending rather than raise taxes. Opposition head Pedro Passos Coelho said he would support the budget under certain conditions, including an emphasis on spending cuts. More here.

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