Most people would not credit Dilma with &quot;passing high school exams level&quot; understanding of economics.<p><i>But Ms Rousseff and her left-wing Workers’ Party (PT) have made a bad situation much worse. During her first term, in 2011-14, she spent extravagantly and unwisely on higher pensions and unproductive tax breaks for favoured industries. The fiscal deficit swelled from 2% of GDP in 2010 to 10% in 2015.</i><p><a href="http:&#x2F;&#x2F;www.economist.com&#x2F;news&#x2F;leaders&#x2F;21684779-disaster-looms-latin-americas-biggest-economy-brazils-fall" rel="nofollow">http:&#x2F;&#x2F;www.economist.com&#x2F;news&#x2F;leaders&#x2F;21684779-disaster-loom...</a>