Friday, August 14, 2009

Brazil's president vetoes proposed spending limits

Got this off of Warren Mosler's blog.

Brazil gets it...China gets we?

Brazil Lula Vetoes Spending Limits for 2010 Budget, Estado Says

Aug. 14 (Bloomberg) -- Brazil’s President Luiz Inacio Lula
da Silva vetoed 20 items in the guidelines for next year’s
budget that sought to curtail government spending on public
works, O Estado de S. Paulo said.
Lula also vetoed a measure that would have limited the
government’s ability to increase investment under its so-called
Growth Acceleration Program, which is comprised of
infrastructure spending on ports, roads and energy projects, the
Sao Paulo-based newspaper reported, citing the official gazette.

No comments: