Hugo Chavez Eyes Spending Cuts

Hugo Chavez, the controversial President of Venezuela, is one of the many world leaders searching for ways to survive during these difficult economic times. In Venezuela, the economy has been negatively affected by slumping oil prices.
Chavez recently outlined a plan that will cut spending deemed unnecessary by federal employees. Examples of spending that will be cut includes money paid toward everything from new automobiles to cell phones to lavish parties. Chavez also plans to reduce the yearly income of many of those employed by the Venezuelan government.
Another way Chavez plans to boast Venezuela’s economy is raising taxes. According to reports, …read more