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Thursday, February 27, 2014

Clemgeopin says

Clemgeopin5
27 February 2014 at 11:55 am

"Government debt has reached $60 billion, having climbed $27 million a day since John Key became prime minister – and forecasts show it will rise for years to come.

Treasury figures show net Crown debt reached the highest yet at $60,015,000,000 at the end of September 2013.

It already equates to 28 per cent of New Zealand’s economic output, is more than $13,000 for every person in New Zealand and is forecast to climb by another $10b by 2017.

When National took control of the Beehive in 2008, debt was just over $10b."

6 comments:

Paranormal said...

The bit that's missing: "and the ever increasing debt is because National decided not to roll back the wanton and reckless spending implemented by the Liabour government ably supported by the Greens".

In the current global environment debt is toxic.

robertguyton said...

Can't shoulder responsibility for anything, Paranormal, can you.
Bill English has been caught lying to Parliament about poverty levels and will be flayed next sitting of the House. I'm looking forward to that very much. Genesis Energy is an outright con and all associated with it should be turfed out of office immediately. Another discussion to be enjoyed when the House reconvenes next. What a scurrilous bunch.

Philip Todd said...

Would love to see the total debt public and private. The Nats have a habit of shifting debt off to the private sector. Considering the sell off to date we haven't done much with the family silver we have sold.
But as you can see with Pike River its all about the dollars nowadays

robertguyton said...

Slippery's "Pike River Shuffle"?

Disgraceful.

Paranormal said...

You're such a good example of not shouldering responsibility for your party's actions RG. ;-)

The difference between us is I'm not a National supporter. If only the gnats had the guts back in 2008 when there was a mandate for change to remove welfare for families and interest free student loans. it would have removed significant distortions and the economy would be far better off without PIIGS level of debt.

Can't have it both ways, which is what the left seem to want. They want the continued high levels of government spending but don't want the debt that comes from living beyond your means. Go figure?

robertguyton said...

Quite right, Paranormal. As Party Leader, I certainly should shoulder responsibility for everything my party does.