The New York Times Gets Confused in Spain: It Doesn't Realize that Taxes Pay for Spending

It seems the paper is having more than a few problems with logic these days. (See yesterday's concern that inflation in the euro zone will drop from a small positive to a small negative.) An article on the rise of Podemos, a left populist party in Spain, discussed Podemos' program:

"The program also calls for new taxes on the wealthy and on financial transactions. It promises higher pensions and salaries, as well as a rise in spending on health care, education and other social services — with...