The NZ economy is really struggling at the moment borrowing $300 million a week just to pay the bills.
While leftie blogs are jumping up and down that it's the National Govt's fault (in power 2.5 years), the reality is this is the continuing legacy of Helen Clark & Michael Cullen's government (in power for 9 years).
Helen Clark is to blame not just for her economic policies that cranked up entitlements and government spending which are very difficult to scale back, but the continuing political environment of denial. Helen could argue a rainy, stormy day was mere overcast and was actually sunny.
Helen Clark cultivated this environment by not only being risk adverse, but by continually criticizing bold decisions taken by previous governments i.e. the mother of all budgets, & Rogernomics. The reality is that she did not repeal any of Ruth Richard's bold budget while in govt, and she was actually a minister during the Rogernomic era. So while she understands the reality of these bold measures (and even voted for some of them), she presents a different view because it suited her politically (while some may consider this good politics, I actually find it disgusting & disingenuous).
The result is an opposition Labour Party which hasn't talked about deficit reduction once, and a timid National government.
Don Brash is a great reality check. Shame he never made it into government.
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