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Former Budget Chief to Obama: New Zealand alone has managed the crisis right
A top former financial advisor to President Obama has given New Zealand a ringing endorsement for the way the National Government is handling the global financial crisis.
Peter Orszag, Obama’s Director of the Office of Management and Budget until 2010, singled out New Zealand as the model for a balanced response to the international debt crisis.
Mr Orszag observed the importance of combining long-term deficit reduction measures with additional support for the economy, and identified New Zealand as the only country which has got the balance right.
“If you look across all the developed countries, there is only one country… which has actually done that, which is New Zealand – who have coupled additional stimulus with medium-term fiscal consolidation. That’s the right combination.”
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8 comments:
Pity the media will not publish this - goes against all their thinking.
If the media will not publish it, where does it come from?
I think Paulus was referring to the NZ media. They seem pretty obsessed with downing the National govt. Although they seem to be putting a token bit of info up about it.
So where does it come from?
It comes from the media who would never publish it. Right-wing cognitive dissonance at its very finest.
Is that what causes brain fade?
There has to be a brain before you can have the fade.
His analysis is a simple one.
Because the NZ Government gave some stimulus in addition to the major cutbacks in everything else it was somehow better than the rest.
The latest results on New Zealanders perception on the state of the nation do not support that his view.
In fact one could argue from those figures there is no stimulus at all in those areas that matter to Joe Kiwi.
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