It looks like Spain’s government is dealing with the same problem that plagues all too many American college grads: being so far in debt they can’t keep track of it. Sounds like the Spanish may have to change their national cuisine to off-brand cereal breakfasts and mac and cheese dinners.
Early last week, Spain announced that its debt had risen to 99.8% of its entire economic output. However, on Friday, the economy ministry announced that the person who’d entered that figure had made a mistake and that the actual amount was only 98.9%.
Only 98.9%? Well, it could be worse… but only about 1.1% worse.
Apparently, the person who typed the figure had mixed up the last two digits. Perhaps that person had become distracted? Maybe by trying to figure out how to get the hell out of Spain before the country’s economy collapses?
But really, how much could .9% matter?
“The difference may seem minimal, but when dealing with an economy the size of Spain’s, which is the fourth biggest in the eurozone, it is equivalent to about 10 billion euros (about $14.5 billion),” reports ABC News in Australia. $14.5 billion? That’s a lot of tapas right there.
So let this be a lesson: if you’re so far in debt that it takes four days to discover a $14.5 billion error, then it may be time to reassess how your country is handling its funds. Though the fact that the government was able to miss a $14.5 billion error probably explains why the country is in so much debt to begin with.
[Source: Typo adds $14.5 billion to Spain’s debt]