My Morning Paper – July 18, 2016 – The Progressive Liberal Party and the National Debt

“How arrogant and disconnected from reality do you have to be to tell Bahamians “We Deliver” when suffering is all around, when one in three young men are out of work, when nearly 500 have lost their lives to murder?

They borrowed $1.7 BILLION dollars Bahamians.  They sold BTC to foreign control for another $200 million.

That means they’ve spent nearly $2 billion.

Two BILLION dollars.”

Excerpt from remarks by Perry Gladstone Christie, Leader of the Progressive Liberal Party at a mass rally in Golden Gates, 2012.”

How do you sell something and add to your debt? But then I digress.

 

believe

This is now Prime Minister, then in opposition on the campaign trail, shortly thereafter, [June 07 2012] Minister of State for Finance is quoted as saying “…………the Ingraham administration spent money like ‘inebriated mariners’ or ‘drunken sailors’ with no plan or provision as how the spending spree would be paid for.”

It is oddly amusing, indeed, to reflect on these statements especially in light of what is going on today.
“National debt near $6.8bn following Govt. spending rise.” – The Tribune Business section.

Excerpt from this article; “A 17.3 per cent increase in total government spending drove a $125 million jump in the national debt to almost $6.8 billion to end March 2016, the Central Bank revealed.

The regulator, in its economic review of the 2016 first quarter, said the continued rise in the national debt came despite Value-Added Tax (VAT) collections ‘more than doubling’ year-over-year’ to 4157.1 million.’ But I thought that they said….

“In its management of the economy, the PLP will direct all resources of the state in pursuit of these clear goals.

  • Reaching and rescuing those in poverty
  • Reversing the effects of mortgage foreclosure.
  • Help those overwhelmed by consumer debt
  • Reducing the cost of electricity
  • Expanding the role of Bahamians as investors
  • Effective promotion
  • Removing impediments to business
  • Reinventing the Bahamas Development Bank
  • Investment incentive for Bahamians “

Excerpt from “PLP – A Charter for Governance”

Yet with all of these promises the national debt still continues to climb but as we now know these were only promises, never to be fulfilled, never to be heard of again but then it is the PLP that we have come to know just a little too well.

But to their credit the PLP did have a backup plan to rescue  those in poverty and it was called “VAT”, this was supposed to lower government borrowing and help bring the cost of living down but yet here we are facing yet another credit downgrade with NO explanation as to what went wrong.

Perry Christie called the Ingraham ‘arrogant and disconnected from reality” for telling the country “We Deliver” but what do you call it when a government promises “Believe in Bahamians” but yet does very little to ease the day to day living condition of the average proletarian while adding taxes?

The Progressive Liberal Party fails for one reason, it is within their nature.

END

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