Betting on green energy puts Spain in deep hole

NY Times:

Spain Is Still Awaiting the Payoff From Austerity

Austerity is the result of running out of money by making foolish investments in green energy and having a bust in the housing market.  Spain was woefully mismanaged by the  Socialist and will take some time to dig its way out.  It is a mistake to just focus on the problems with austerity.  that is what happens when you run out of money.  With around 25 percent unemployment, they are not going to be able to tax and spend there way out of the problem.

The Times needs to focus on the mess created by the green energy investments, because that is where Obama wants to take the US.  Perhaps that is why they would rather talk about austerity.

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