3 ms·
That's been working so well in Brazil...
by nickbauman 11y ago
That's been working so well in Brazil...
- jpatokal 11y agoMost people would not credit Dilma with "passing high school exams level" understanding of economics. But Ms Rousseff and her left-wing Workers’ Party (PT) have made a bad situation much worse. During her first term, in 2011-14, she spent extravagantly and unwisely on higher pensions and unproductive tax breaks for favoured industries. The fiscal deficit swelled from 2% of GDP in 2010 to 10% in 2015. http://www.economist.com/news/leaders/21684779-disaster-looms-latin-americas-biggest-economy-brazils-fall http://www.economist.com/news/leaders/21684779-disaster-loom...