|Budgets will remain “neutral” in 2010, becoming “clearly|
restrictive as of 2011 when recovery is expected to gain
momentum,” Luxembourg Prime Minister Jean-Claude Juncker told
reporters today after chairing a meeting of euro-region finance
ministers in Luxembourg.
As if that's not enough the Bush tax cuts will expire on Jan 1, 2011 and a spending freeze goes into effect this October.
If you thought the last time down was ugly, that's gonna look like a picnic compared to what's coming.