The latest story doing the rounds is the idea of us amending our constitution to restrict borrowing as a quid pro quo for getting a reduction in our IMF rate. All well and good. But why aren’t we discussing this idea for ourselves, as a good way of running our country regardless of how Brussels or Berlin think?
Surely one of the key ingredients of our economic downfall has been the Spending Junkies that are our politicians, men and women who just can’t help themselves when it comes to spending other people’s money. Imagine the effect of a constitutional amendment that not only restricted borrowing, but actually limited the size of the budget, and forced politicians who wanted to spend to go and find the funding from existing resources. Sure, the social partners and the politicians wouldn’t like it. But the people who pay tax might.
And before some people go off on a bender condemning this as another “typical right wing” proposal, ask yourself who pays for all this stuff. The rich pay some of it, but ordinary workers pick up most of the tab, reducing the amount of money they have to put food in front of their kids. Politicians perceived as right wing (Step forward FF and the PDs) have been just as guilty of blowing other people’s cash as the left. Just look at benchmarking. Or PPARS. Or eVoting. All money pissed away by a nominally centre-right government. This isn’t ideolgy. This is how a reasonable family manages its budget.