Vexed Bermoothes

Blustery Opinions From Bermuda

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Austerity

October 5th, 2012 · No Comments · Bermuda Politics

Sad Paula Cox says that she chooses “invessssstment” over austerity.

That’s not true.  With the out of control borrowing undertaken by the PLP in recent years, Government must devote an increasing chunk of its revenue to paying interest charges with overseas lenders.

That’s money that is not spent on Bermuda or Government services.  It is de facto austerity!

Larry Burchall has a solid explanation of how this works.

The sad fact is that the PLP’s austerity programme is only maintaining the problem;  fixing the PLP’s binge may take generations.

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