More than a covid's-worth of fiscal incontinence

"[W]hen the pandemic hit Ardern and Robertson had a decision to make. Respond in a fiscally prudent manner or borrow seventy billion, at least thirty of this was spent on non-pandemic frippery, and wrap themselves in a cloak of virtue while leaving an economic calamity to a future set of politicians. ...

"Ardern and Robertson used the pandemic to advance their own agenda ... [John] Key saw a crisis and, lacking an economic agenda or political philosophy, ran to the international money men to maintain the status quo rather than attempt meaningful reform.

"Given the content of the Covid Report the current government is right to highlight Robertson’s fiscal incontinence; pointing to the 70.4 billion total spend as a contrast with their own rectitude.

"Except. Well. ... [Nicola] Willis, who has managed to add over twenty billion new debt in her first two years in office, is projected to increase sovereign debt by more than Robertson achieved over the next five years.

"And this is without a pandemic, major earthquake or outbreak of foot and mouth. ...

"Imagine a company director who has seen revenue fall but maintains payroll by borrowing. Eventually the line of credit ends, staff lose their employment and the director is forced to sell the family home.

"That is our economic policy in one paragraph."

~ Damien Grant from his column 'John Key and Jacinda Ardern both turned to debt when disaster hit'