No Right Turn is not impressed with National’s “handling of the economy”.
So, to its impressive record of economic achievements – a stagnant economy, 154,000 unemployed, andrecord high inflation – National can now add a credit rating downgrade. Heckuva job, Bill. You’ve really earned your $250,000 this year. Do you want a bonus too?
Does it need to be spelled out any clearer? National is a failure at managing the economy. They’ve treated the country like a small business, tightened its belt, and so driven it into the ground.
So National is evil because the didn’t tighten their belt and avoid the credit downgrade, and also because they tightened their belt to avoid it.
The reality is that this is bad. Infation is bad, credit downgrades are bad, and unemployment is really bad.
But Idiot’s solution would lead to 2 of those factors being worse, and probably wouldn’t help with the other either as a result. Just ask Obama how the whole “borrow and spend” thing is going…
The amusing thing is how the left are busily gloating over the downgrade while completely ignoring the reasons S&P and Fitch have cited for doing so. The ratings agencies seem mostly worried about the government’s overexposure to the Christchurch earthquake. They cite the fact that the government is being forced to overstimulate the economy due to the rebuild.
Labour’s response? Let’s spend even more!
My irony meter broke months back. It burned out from constant, off the scale irony emanating from the left.
It’s a bit sad really that Labour came to power in 1999 when National had already turned the economy around. They honestly think they were responsible for what happened, when all they did was avoid screwing it up.
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