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Future America? Spain struggles with large gov’t spending cuts
Posted By AIM Newswire On January 25, 2013 @ 7:00 am In AIM Newswire | 1 Comment
hMADRID, Spain — It seems that this is now the norm for European countries, ones with large government social programs and extensive bureaucratic systems. Spain is now facing huge problems as its current government is cutting costs across the board.
Garbage workers, civil justice workers, and students alike are protesting the large cuts that have affected their lives. Garbage workers in the historic city of Granada had almost a two-week-long strike that barely ended last week, with only a quarter of the city’s trash being picked up. They had not been paid in almost two months.
Protests by other government workers, some of which haven’t been paid in weeks or have had their paychecks cut, are now a way of life for Spaniards.
It does not cover the hundreds of layoffs that Spanish companies are announcing at almost a weekly pace. Spanish phone company Vodafone is planning hundreds of job cuts, while Roca has closed a toilet factory and one of the country’s biggest banks in Bankia also fired workers.
What Spaniards fail to realize is that the government has to slash spending to historically low levels in order to keep their way of life. Investors and those who invest in government bonds will call on the government to pay their debts, and in order to do so, the government has to cut spending and cut costs.
This also applies to the American government headquartered in Washington, D.C., where a budget has not been passed in 4 years due to a stalling Democratic-controlled Senate.
The question is, do American politicians have the guts to do the same? Will America be pushed into forcefully cutting programs across the board?
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