I’d like to respond to a letter in your newspaper about the government’s debt. It says: “This is just sound fiscal management. The govt. is taking more responsibility to pay its own way. It doesn’t mean the govt. is broke.”
Where was this sound fiscal management while the government incurred the debt, and ignored warnings from the financial gurus? And who is suffering in paying the debt, the government or the people?
The letter continues: “Besides, debt is good for a small developing country because it stimulates economic activity and economic growth, as long as the economy keeps growing.”
What economic activity P.M. Jeffery? Do you mean taxes? Robbing the poor to pay the rich, the big corporations who loan the money in the first place?
The last few years the budgets were small, which the minister titled one.
“Spend within our means.”
Did it sound like the economy was growing?
When you don’t have the money to spend it means you are broke. And when you are trying to have some money to spend, then it’s ether more loans or rob the poor, easy to do they have not the strength neither the resource to fight back.