The Winter Olympics is another event where athletes around the world can showcase their abilities and nations can flaunt their strong programs in every field. The Canadian team spent $100 million on a federal program to train athletes for the Winter Olympics they were hosting, hoping to win their first gold medal in a Winter Olympics on home soil.
In the Summer Olympics, the United States Olympics Committee committee spend half a billion. Similar heavy spending has allowed the US to rank number one in the overall medal count in the last 4 Olympics.
It is no secret that certain countries overspend in certain areas of their budget- whether on defense expenditures, education, health, infrastructure, or social services. Of course, placing an emphasis on one section of the budget leads to positive and negative ramifications for the guilty country. Many of us have heard stories: The Chinese taking over the world with their advanced military, the free health care in certain European countries, money for going to school in Denmark, and other interesting (and sometimes wrong) points that have crept into our minds thanks to the Media.
“The sun never sets on the British Empire” was a popular phrase heard during the Victorian era in Britain. For many years leading up to World War I, the phrase held true, the British navy controlling the sea, using imperialistic tactics in dominating global commerce, and allowing British at home to enjoy the merits of a powerful state.
Subscribe for E-mail Updates
New on SmarterSpend
- How Hire a Contractor for Less Without Sacrificing Quality
- Top 5 Craigslist Scams to Avoid
- 8 Companies Facing Bankruptcy in 2011
- The Ultimate Personal Finance Blog Rankings from MoneyCrashers!
- Investing in Health Care: 3 Innovative New Drugs to Watch