World Politics Central

The Government Accountability Office (GAO) has been asked by U.S. Senators how Iraq was spending its income on oil.  The January 2007 GAO report says that $10 billion has been earmarked for reconstruction, but only 4.4 percent has been spent until August of last year.  The Iraqi government is being blamed in spending 24% of the money.

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U.S. President George Bush has acknowledged that the country’s economy is experiencing a difficult time.  He said it has indeed slowed down, but the economic stimulus package that was signed into a law has just started.  In the package, businesses are given tax incentives to buy new equipment and 130 million households will receive rebate checks this coming May.

The Prime Minister for Italy, Romano Prodi, says he is already retiring after the parliamentary elections.  He is 86 years old and in his interview, he told Euronews.net that he is finished with Italian politics and all politics in general.  Rome’s mayor, Walter Veltroni, is taking over the leadership of the country.

European King Juan Carlos has steered Spain to modern democracy from its dictatorship 32 years ago.  His achievements have included defending the said democracy from an attempted “coup de tat” in 1981.  But even if he used to be so popular and well-loved, there are political groups right now that are troubling the king for they have called an end to this Spanish monarchy.

The common man is the worst sufferer of corruption in India, and in any country for that matter.  But in India, there is an unequal distribution of wealth and immoral use of money.  The political parties have a very large share in wasting economic resources.  It is best described as a country where Machiavellian politics is widely present.  This means that although India has the largest democracy in the world, the common man is till getting an unfair deal.

Maybe one of the reasons why India is being plagued economically is because of the hundreds of political parties existing there right now.  There are 59 registered and recognized parties.  However, there are 500 registered and unrecognized parties as well.  You can just imagine the amount that they are spending here per annum.  This amount has not yet included the expenses of Election Commission of India!