As Spain grapples with 20 percent unemployment, the country's famous, and famously gratuitous, state-subsidized bullfights have taken a skewering:

Hordes of humans will sprint ahead of thundering beasts this week at Pamplona's famed running of the bulls, but Spain's most storied fiesta is being overshadowed by a crisis in the bullring.

Across Spain, the number of bullfights has dropped from about 1,000 in 2008 to a projected 800 or less this year, as local governments that have always subsidized small-town bullfights cut budgets because of declining tax revenue.

Bullfights, or corridas in Spanish, have become a luxury when cuts must be made by town councils to maintain funding for schools, social programs and road repairs.

Read the full story at CBS.

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