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Tuesday, November 4, 2008

The Government is eating the economy

To paraphrase Bryan Spondre's own cyber slacking, "The Government is Eating the Economy

“Treasury has released the New Zealand Government’s accounts for the first three months of the 2008/09 financial year, which show the government falling into an operating deficit of NZ$757 million from a forecast of a NZ$943 million surplus.” - Bernard Hickey

And if you've seen the economic disaster coming and read the so-called "rescue" plans of either party -- of which, if you've read one you've read the other -- you'd know that scary number is only going to get scarier.

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1 comment:

  1. Jeffrey PerrenNov 4, 2008, 2:41:00 PM

    The U.S. deficit this year is estimated to be as high as $1T; even before the bailout it was in the neighborhood of $450B.

    It's a pity we no longer live in an age when that is seen as treason and a capital offense. (Bad pun intended.)

    ReplyDelete

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