Vexed Bermoothes

It appears that the Opposition UBP and BDA are combined in their criticism of the PLP’s profligate spending with duelling editorials in the media.

The PLP blog has responded with it’s usual hyperbole of:

What Would the Opposition Cut?

So, what would they really cut?  They aren’t telling us. But, we know where their loyalties lay. They are the parties of Front Street. They believe in catering to their clubby friends because, after all, if their friends are doing well, that success is going to trickle down to the rest of us. So, don’t expect them to pursue any policies that will hurt them.

Oh, please.  The same ole story of us vs them boogeymen.  I won’t even go into the hilarity of the “clubby friends” allegations.  In my opinion, the PLP adopted the 40 Thieves as role models.

The PLP goes into all sorts of callisthenics to make the case that $1 billion of debt is not alarming due to our big GDP.  But the fact is that our GDP has little to do with our “real economy” that is many times smaller.  It would not take much for our GDP to change dramatically … with catastrophic consequences for the few Bermudians who have to carry the debt load.

Do you think it’s healthy for a “town” of 60-odd-thousand people to have over $1 billion in debt?  It really is that simple.

And, under the PLP, Government has annually been spending around $200 million more than it takes in.  That cannot be sustained.  Households must balance their budgets, and ultimately so must countries.  Someone will have to either find a way to bridge that gap.  There are only three choices:

• Raise taxes.  Already done this year, with a dampening effect on the economy.  Probably can’t do much more here without going to a full income tax.
• Find new revenues or businesses for Bermuda.  So far their best idea is to roll the dice.
• Cut spending.  Anathema!  No more boondoggles?

Someone will have to be the adult and cut Government spending.  If the PLP is unwilling to consider that, taxpayers must reconsider their suitability for government.

There is no free – ultimately you will pay for it.  It’s your money.