I’m not sure why, but politicians tend to make careers out of promises to walk the talk regarding responsibility, accountability and transparency when they are in opposition. Once elected, many of them attempt to defend the indefensible.
A case in point is the debt level of The Bahamas as a percentage of GDP and Mr. Zhivargo Laing’s recent pronouncements.
According to an interview published in the Bahama Journal he makes the point that the Bahamas debt level as a percentage of GDP has passed the vaunted 40% level. In fact it is well over 40% if you include the governments contingent liabilities for the numerous government corporations etc.
The Minister of State for Finance then attempts to make us feel good by suggesting that this is good because Barbados debt to GDP is 80 to 100% and Jamaica’s is 160%.
So here we have justification for irresponsible behaviour by the Government, all the while they (through the Central Bank) make rules that tighten credit for every individual to live by.
That interview was the perfect opportunity for Mr. Laing to suggest that it is time for government belt tightening like the business community is having to do.
Regretfully he chose the political path of justification rather than coming clean with the nation and letting us know the truth. It’s painful, the truth that is, but denial is the wrong approach in this bloggers not so humble opinion.