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Troubled Spain amends constitution to limit debt
AP/yahoo finances ^
| August 26, 2011
| Daniel Woolls
Posted on 08/26/2011 11:48:27 AM PDT by Rick_Michael
The ruling Socialists and the opposition center-right Popular Party cut a deal after hours of frantic negotiations to propose a law under which, starting in 2020, the national deficit cannot surpass 0.4 percent of the country's GDP............
(Excerpt) Read more at finance.yahoo.com ...
TOPICS: Breaking News; Constitution/Conservatism; Foreign Affairs; News/Current Events
KEYWORDS: collapse; debt; default; gdp; iberian; italy; partylikeits2019; spain
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It's sad when the US can't out do Socialists in passing long-term fiscal policies. But I suppose they're a LITTLE more desperate than us...at the moment.
To: Rick_Michael
They’re serious! 2020! If they can do that then I can begin my diet, in 2020.
To: chopperman
haha...yeah, that’s a funny part of it!? But at least there’s some commitment there....while we just continue to sleep in the deep end.
3
posted on
08/26/2011 11:52:21 AM PDT
by
Rick_Michael
(Obama Debt-Laden)
To: Rick_Michael
4
posted on
08/26/2011 11:55:32 AM PDT
by
WayneS
(Enlightened statesmen will not always be at the helm. -- James Madison)
To: Rick_Michael
For the US that would be about a 57 billion dollar a year deficit. Is that right?
5
posted on
08/26/2011 11:55:37 AM PDT
by
xzins
(Retired Army Chaplain and Proud of It! True Supporters of our Troops PRAY for their VICTORY!)
To: Rick_Michael
Well, Spain won't recover in any near future. For one, debtors cannot abandon responsibility for mortgage debt by surrendering the property.
A debtor will continue to be financially responsible for the full amount of their mortgage, even after they lost the property to a new purchaser. They will also be responsible for court costs and other penalties.
6
posted on
08/26/2011 11:55:46 AM PDT
by
Palter
(Celebrate diversity .22, .223, .25, 9mm, .32 .357, 10mm, .44, .45, .500)
To: Rick_Michael
2020 and then they start to get real. WTH! I guess they figure most of them will be out of office by then. Another politician passing the buck.
7
posted on
08/26/2011 11:58:58 AM PDT
by
for-q-clinton
(If at first you don't succeed keep on sucking until you do succeed)
To: Rick_Michael
Yes but as Americans can attest to, just because you make a law doesn’t mean it will be followed.
To: xzins
Yep. A billion per state! ;-)
9
posted on
08/26/2011 12:07:50 PM PDT
by
RedCell
(Honor thy Father (9/6/07) - Semper Fi / "...it is their duty, to throw off such government...")
To: Rick_Michael
2020? They'll be living in a post-EU crater by then. Even if they weren't, there's nothing to stop the next administration from striking this law from the books, and no controlling authority that will punish them if they ignore it.
Sorry, but this is just another monument to their own fundamental unseriouness. They won't make real cuts until they literally have no other choice.
10
posted on
08/26/2011 12:11:38 PM PDT
by
Steel Wolf
("Few men desire liberty; most men wish only for a just master." - Gaius Sallustius Crispus)
11
posted on
08/26/2011 12:12:20 PM PDT
by
devolve
(If my graphics offend you/HLS scroll down - If too large simply carefully back away from your PC)
To: Rick_Michael
Spain - We resolve to stop procrastinating by 2020!
12
posted on
08/26/2011 12:13:56 PM PDT
by
OB1kNOb
(When scraping bottom of political barrel, the top layer of scum candidates isn't better than bottom.)
To: for-q-clinton
2020 and then they start to get real. WTH! It's political theater, just like they did here with the debt limit.
13
posted on
08/26/2011 12:18:06 PM PDT
by
Moonman62
(The US has become a government with a country, rather than a country with a government.)
To: Rick_Michael
Spain and Italy are trying to convince more countries to the north to give them more money. Germany, France and others are probably about to give up on the EMU.
14
posted on
08/26/2011 12:22:10 PM PDT
by
familyop
("Plan? There ain't no plan!" --Pigkiller, "Beyond Thunderdome")
To: Rick_Michael
“starting in 2020”
It will never happen.
15
posted on
08/26/2011 12:30:50 PM PDT
by
Grunthor
(In order; Perry, Palin. None of the rest matter 'til the general)
To: chopperman
“They’re serious! 2020!”
Yeah, even our congress can probably agree to do it then. :)
To: Steel Wolf
2020? They'll be living in a post-EU crater by then. By 2020 they'll be living in a post-El Cid caliphate.
17
posted on
08/26/2011 1:08:59 PM PDT
by
COBOL2Java
(Obama is the least qualified guy in whatever room he walks into.)
To: Rick_Michael
Seriously, 0.04%? That would be a great target for the US - that would be $6 billion!
18
posted on
08/26/2011 1:09:52 PM PDT
by
FromTheSidelines
("everything that deceives, also enchants" - Plato)
To: OB1kNOb
19
posted on
08/26/2011 1:12:24 PM PDT
by
FromTheSidelines
("everything that deceives, also enchants" - Plato)
To: Rick_Michael
Somebody want to help me out with the “frantic negotiations “ part? I watch European news nearly daily and these people are on summer break. Their biggest concern is getting a new loan. So far the Gleeks, Romans, Spaniards, and Irish haven’t cut back a dammmmmthing——just screwed over their bond holders and gotten longer term financing. Maybe frantic will actually happen out around, oh, say 2020?-—I just drooled that’s such a joke.
20
posted on
08/26/2011 1:17:59 PM PDT
by
cherokee1
(skip the names---just kick the buttz)
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