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deficit and debt

Note (January 3, 2007):

public deficit for 2005: EUR 60 billion deficit
result for 2006: 35 billion €

Public debt for 2005: €
1.534467 trillion of government debt for 2006: 1.601483 trillion euro (partial)

The Government announced a halving of the deficit, but does not say a word about the debt.

Comment:

Compared to 2005, the deficit and 'reduced by 25 billion, but the debt and' increased by 388.452 trillion. The deficit reduction and 'due to an unexpected increase in tax revenue, not less waste of public administration. Rising debt 'due to the deficit (new debt) and interest expense on outstanding debt.

Reducing the deficit and 'act necessary but not sufficient condition for debt relief. Assuming a constant halving the deficit in coming years, and the freezing of interest on the debt, will serve 53 years of tears and blood to achieve sound public finances. If we consider the current interest payments, unemployment, emigration, immigration and an aging population, the debt will continue 'to grow and is not' possible to make optimistic forecasts. Hope for a sudden Renaissance Italian economy would be irresponsible idiots.

Wanting to represent the situation in pictures, think of a donkey tied to a cart. The donkey represents the Italian people, and the cart represents the weight of an inefficient state. The situation and 'simply unsustainable. Public finances need to be healed with less spending, not higher taxes. As rightly said Fassino, a finance company as this will be 'impossible for years to come. The government must be reformed.