Would be very interested to know what other programs Portugal's gov cut from, but the moral that I'm drawing here is "when money's tight, spend on workers and businesses instead of on infrastructure and [xyz]"
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Which makes perfect sense--infrastructure is more often the RESULT of a thriving economy than the cause of one. Still not sure what the other "programs" mentioned were, but I will say that the same is true for welfare and social benefits: result of prosperity, not the cause!
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Surely pensions can be cut without too much of an effect. It'll reduce consumption somewhat, but it's not like they're current or future workers...
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Depends on how much of the economy is driven by pensioner spending--in Japan for example it's huge (well, retiree--idk how much is due to benefits vs due to savings)
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Yep. And now our trains are a joke, our airports outdated, the dams and bridges are rotting, and barely no sea presence despite a having a big exclusive economic zone. But muh eurodeficit.
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Austerity isn't gone by any means. And trains still suck and are late or get supressed.
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