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Free Download: German Truck Simulator 1.32 Edition Vienna Dec 2013 Crack · German Truck Simulator 1.32 Edition Vienna · Truck Driver Simulator 2013 2.0.4 Crack · 12The Debt Now

By David Birkett

The Post-mortem, B2, p. 82, 13 August 2016

The Debt Now

…social reform and borrowing (sources of debt) are not a political choice, but a result of the economic context in which we live. The total debt of a state is a representation of its political and economic integrity, one aspect of the type of state to which it gives allegiance, as a response to a prevailing economic context.

Social reform and borrowing are a political choice, within the limits of political constraints and the prevailing economic context in which it happens to be located. The Treasury spends money and issues debt. The Treasury exists to borrow money. The Treasury has the ability to raise revenue. If an economy is going to borrow and spend, there must be revenue to pay back that debt.

The political choice is one of social reform and borrowing, taking into account the economic context of today, and making the necessary arrangements for the long term.

The Treasury’s finances are, above all, a question of the long-term future of the economy and the society that exists within it. Social reform and government borrowing reflect a political choice, in which the prevailing economic context and the events of the future, as they occur, are taken into account.

All the rest of the economic consequences are irrelevant and inconsequential. There is nothing more to be said about them.

The Debt Now

Thanks to the refusal of the Coalition government to impose a quota on migrants, to reform and slash the welfare state and to return the public service to real-world economies, we now have a situation where debt is being projected to eventually exceed GDP for the first time in our history.

The GDP – the “wealth” of the economy, generated by national productivity and consumption – is growing as rapidly as it did throughout the 1980s and 1990s, but there is nowhere to invest this new wealth or to consume it. And therefore, there is nowhere to borrow it.

Thanks to structural reforms, welfare will continue to be a political choice, because of the political reality of a society that is becoming ever more unequal.

David Birkett is a solicitor in Auckland, New Zealand.Q:

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