Tuesday, January 4, 2011

The pathetic PIIGS

For living proof that austerity is not only possible, but beneficial, I will simply quote Bloomberg :

Even as the economy shrank 13.9 percent in 2009, Estonia raised sales, alcohol and fuel taxes, froze payments into workers’ pension funds and cut salaries. The measures helped reduce the budget deficit to 1.7 percent of gross domestic product, well below the EU’s 3 percent limit. By contrast, Ireland and Greece had deficits of more than 14 percent of GDP.

And the same goes for the US as well. How's about you suck it up, and act like men, instead of whining?

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