Fitch ratings agency has lowered New Zealand’s credit rating by one notch from AA+ to AA and expressed concern over our high external debt. In response to this news, Bill English said this in a radio interview this morning-
“In a sense the market’s goalposts have shifted because now they’re more sensitive even though our levels of debt are lower than they were two years ago. I wouldn’t say we knew it was coming but we’ve always known what the issues are and that’s why we’ve been working pretty hard for the last couple of years on getting Government debt under control because that’s an important part of this.”
Not good enough Mr. English. There has been no shifting of any damn goal posts. You have not been working pretty hard to get government debt under control. Both those claims are rubbish.
The western world is drowning in a tsunami of debt caused by socialist governments spending money they do not have and pretending they have wealth when they are poor. The need for action is urgent.
You have done nothing Mr. English. You have sat on your hands afraid to do what is necessary because if you did do those things it would make John Key an unpopular Prime Minister.
Key lacks the character and the ability to tell NZers the truth, so he continues his smiling charade. Spending by government is still carrying on at the same irresponsible rate it was when National were elected, with the Nats weakly pandering to the same entitlement culture the previous government encouraged.
Key and English could have taken steps to turn things around but they lacked the political courage and the argument and the rhetoric to take it to the voters.
Its not a matter of “shifting goal posts”, or any other such weak cliched excuse. When the crash comes, it will be twice as bad as it needed to be because Key and English did not do the things they should have. Trying to camouflage this lack of action with weak self serving propaganda only makes things much worse.
The bottom line is that Socialism is clearly unaffordable, and we have to chart a course way from it or we’re heading for bad times. National is taking us to the same destination as the Klark government was. Slowing the train won’t help at all, we need to get it on to an entirely different track. As unpalatable as it may be, that is the message English should be giving the voters. Because its the truth.