Dealing with high budget deficit

There was one good graph from The Economist magazine in its September 28, 2010 issue, on “Public opinion on reducing deficits”. See here.

The desire by the public to see drastic cut in government spending is very clear and explicit in all the countries surveyed, especially in Brazil, Pakistan, France, and Spain.

Lesson: all governments, including the Philippine government, should take note of such public desire, before they will think of creating new taxes, or raising existing tax rates.

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