Vexed Bermoothes

Blustery Opinions From Bermuda

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How Broke Are We? Pt 6

October 30th, 2012 · No Comments · Bermuda Politics, Economy

Like the second half of a hurricane, the PLP have changed wind direction.  Instead of complaining that the OBA are the party of austerity, they now complain OBA wants to spend too much.

The PLP are, of course, the masters of not adding things up.  Few of their big ideas and budgets have added up.  Thus, the $1,200,000,000+ in public debt that’s eating away our future.  This debt simply cannot be justified no matter what mental calisthenics you  apply.

Earlier this year, Government borrowed big on the international markets to close out a number of short term borrowings as well as get some spending cash.

Now here’s a question that should be asked:  has Government taken out more short term borrowings since then?  If so, how much, from whom, and why not disclosed?

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