Wednesday, June 1, 2011

The Great Debt Myth

Over at The Standard is a post The Great Debt Myth.

I want to take a short moment to steal their graph:

To reiterate what I have said many times on this blog we do not have an issue with government spending. Government debt is ridiculously low. We have a massive problem with private debt and we need to reign that in. That means expanding programmes like Kiwisaver not reducing incentives to invest in them and imposing new taxes on savings as the latest budget has done.

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