Yesterday he mocked Bill Clinton for saying that the GOP is advocating fiscal policies that have failed in Europe by pretending not to know what Clinton meant. This is what he meant:
Greece Warns of Going Broke as Tax Proceeds Dry Up
By LIZ ALDERMAN
Published: June 5, 2012
NY Times
“After two and a half years of austerity, it’s really a difficult time to bring in revenue,” said Harry Theoharis, a senior official in the Greek Finance Ministry who helps oversee the country’s tax payment system. “You can’t keep flogging a dead horse.”
Salaries and pensions in the private and the public sectors have been cut by up to 50 percent, leaving Greece 495 million euros short of its revenue targets in the four months ended in April, according to the Greek Finance Ministry. With less cash, consumers have curbed spending, leading thousands of taxpaying businesses to fail.
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1 comment:
http://www.cepr.net/index.php/blogs/beat-the-press/if-clintons-economic-record-is-viewed-positively-then-it-speaks-to-the-horrible-state-of-economic-reporting
Maybe so, but Clinton speaks with little authority.
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