Brazil and the Costs of Hiding a Deficit.

Dilma Rousseff, the left wing president of Brazil, may be regretting fiddling the national budget deficit numbers during her re-election campaign. Brazil’s legislature has moved Rousseff briskly along the road to impeachment. She’s been suspended from office as the Senate prepares to put her on trial. Her support has crumbled.

Imagine the consequences if it becomes a trend to boot officials from office when post-election deficits appear in the immediate aftermath of sunny campaign declarations and a “new economic reality” is unveiled.