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News Link • Economy - International

The Worldwide Government Scramble for Cash

• EconomicPolicyJournal.com
 
The sheer size and rapidity of the shift takes governments off guard. Those governments who play it close to the edge, and most do, face budget crises so dramatic that it forces government officials to do something they would never do if they didn\'t have a financial crisis wrapped around their neck, that is, shrink the size of government in an attempt to preserve cash. Admittedly, this scenario only plays out for governments who don\'t have the keys to the money printing presses, but this list has grown since the formation of the European Union. Countries, such as, Portugal, Italy Greece and Spain, now join cities and states that are forced to cut budgets in a crazed scramble to halt the outflow of cash. And, when they think they can get away with it, raises taxes based on the new structure of the economy.

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