Debt wouldn’t be a problem if this Government taxed the rich!
Crisis or control? The competing views on New Zealand’s national debt
The Government has promised to slash public sector spending to improve our financial position.
New Zealand’s debt-to-GDP ratio (the nation’s debt versus its annual economic output) currently sits at 41.8%, the highest level in roughly 30 years.
This is lower than what we saw in the late 1980s and early 1990s, when the ratio hovered between 60% and 70%, but it’s still high enough to encourage belt-tightening by the current Government.
Stuff
Every bloody election it’s the same ZB talking point neoliberal myths on debt.
The Right are brilliant at pushing corporate interests camouflaged as espousing small business morality.
The Right pretend the Government is like a household in that you can’t spend more than your household brings in which is of course bullshit garbage because the fucking Government can snap their fingers and male money, a household can’t.
The Right manipulates small business morality so as to stave the state of any revenue to redistribute in the first place.
Our 30% debt straight jacket is pure neoliberal play and Bernard Hickey and Verity Johnston dismantle the lies about our debt.
It isn”t Government debt that is the problem, it’s private debt used to fuel a speculative property bubble…
…we wouldn’t have a debt problem if we taxed the mega wealthy!
We are locked into right wing talking points and rather than challenge those assumptions, we get bullied into accepting their solutions.
Universalism of public services that generate a meaningful material upgrade for the many paid for by the few is where the debate should be, not more public service cuts!
