Brazil Just Lopped $193 Billion Off Spending But Needs Much More

(Bloomberg) -- President Jair Bolsonaro has called its passage essential to prevent the collapse of the Brazilian economy. His top financial aide has labeled it his number one priority. And the speaker of the lower house, overcome with emotion, choked back tears when it cleared a key legislative hurdle a few months ago.Yes, the pension reform bill that won final congressional approval on Wednesday after years and years of debate is a big deal, saving the cash-strapped government almost $200 bill