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Spain will miss its 2012 budget deficit goal, says PM Rajoy, speaking in Brussels following the...

Spain will miss its 2012 budget deficit goal, says PM Rajoy, speaking in Brussels following the EU summit. He estimates the deficit/GDP ratio coming in at 5.8% vs. the 4.4% promised, even as EU leaders say it better not. The country also sees 2012 GDP growth of -1.7%, just a slight revision from the previous +2.3%.
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Comments (3)
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    I don't think there is a rug big enough to shove this one under.

     

    Going to need another couple trillion.
    2 Mar 2012, 08:15 AM Reply Like
  • the_value_vulture
    , contributor
    Comments (222) | Send Message
     
    I like how the media is completely oblivious to all this mess. It would not surprise me if it was intentional. If Spain is missing its goals, how does anyone think that Greece or Portugal will "make good"? Oh well ... lets not worry about that. Lets concentrate on the next social networking IPO to reel in the sheep.
    2 Mar 2012, 08:58 AM Reply Like
  • WMARKW
    , contributor
    Comments (10672) | Send Message
     
    And what will the US deficit/GDP ratio be this year....10 - 11% !

     

    And what will it be for the next 5 years.......10 - 12% !!!

     

    You see.....that's what happens when spending grows FASTER than GDP.
    2 Mar 2012, 10:31 AM Reply Like
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