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Wednesday, January 06, 2016

Saudi Arabia is running out of money hikes gas prices 50%

http://money.cnn.com/2016/01/05/news/economy/saudi-arabia-oil-budget-gas/index.html?

Heavily subsidized gas (It used to be 16 cents a liter. Now it's gone up to 24 cents.)
-Free health care
-Free schooling
-Subsidized water and electricity
-No income tax
-Public pensions
-Nearly 90% of Saudis are employed by the government
-Often higher pay for government jobs than private sector ones
-Unemployment benefits (started in 2011 in reaction to the Arab Spring)
-A "development fund" that provides interest-free loans to help families buy homes and start businesses. 


Smile America you paid for this lavish lifestyle....

 

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