A Word About Spain
Unemployment now tops 27 percent in Spain, according to figures released today. Spain's unemployment rate now equals that of Greece.
Those two countries are two of four laboratories for the European brand of Neoliberalism. Sometimes you hear it called "Austerity." Those in politics and the media usually use more benign terms like "Reform" or "Restructuring."
Here we just talk about budget deficits and spread alarm about what they will do to us in the future and then proceed with some sequester cuts and go back to celebrity gossip and terrorist threats.
No country has been able to cut their way to an economic expansion, but economic expansion is not what this is about. Otherwise you'd hear the president and those in congress talking about that, and not what they talk about.