bahamiangoddess
06-13-08, - 04:48 PM
June 13th, 2008
By Quincy Parker
National Debt
"The record shows that the national debt of The Bahamas increased by $828 million – nearly one billion dollars – during the single term in office of the PLP. That’s an average increase in the national debt of $166 million," he said.
"This increase in the national debt of The Bahamas in any five-year period is the largest ever in the history of the country – unprecedented. Never happened before in The Bahamas on anybody’s watch – the previous PLP government, the previous FNM government, only that party’s government the last time."
"Moreover," the prime minister added, "during that same five year period, the accumulated deficit on the recurrent account amounted to $394 million."
Mr. Ingraham explained that recurrent account expenses include such things as salaries and utilities bills – things for which there is "not a single thing to show" at the end of the day.
"I mean, if you borrow $394 million, show me something. There’s not a single thing to be shown anywhere for this $394 million – in a single five-year term," he said.
By comparison, Mr. Ingraham pointed out that over the Ingraham Adminstration’s 1997 – 2002 term – it’s last full term in office – the accumulated deficit on the recurrent account amounted to $34 million.
He said the PLP wasn’t in his government’s league when it comes to managing the economy.
By Quincy Parker
National Debt
"The record shows that the national debt of The Bahamas increased by $828 million – nearly one billion dollars – during the single term in office of the PLP. That’s an average increase in the national debt of $166 million," he said.
"This increase in the national debt of The Bahamas in any five-year period is the largest ever in the history of the country – unprecedented. Never happened before in The Bahamas on anybody’s watch – the previous PLP government, the previous FNM government, only that party’s government the last time."
"Moreover," the prime minister added, "during that same five year period, the accumulated deficit on the recurrent account amounted to $394 million."
Mr. Ingraham explained that recurrent account expenses include such things as salaries and utilities bills – things for which there is "not a single thing to show" at the end of the day.
"I mean, if you borrow $394 million, show me something. There’s not a single thing to be shown anywhere for this $394 million – in a single five-year term," he said.
By comparison, Mr. Ingraham pointed out that over the Ingraham Adminstration’s 1997 – 2002 term – it’s last full term in office – the accumulated deficit on the recurrent account amounted to $34 million.
He said the PLP wasn’t in his government’s league when it comes to managing the economy.