yes you are
Since turning away from austerity in 2015 Portugal has had its highest growth in decades and is on track to turn a surplus in 2020, according to the NYT article.
That's nice. They also continued to borrow and continued to spend & continued to inflate theier debt
you seem to think that getting on budget for a year after 2 decades of continued debt expansion & deficts makes the problem go away
It does not
What is required is a string of surpluses & debt repayment
Under a policy of austerity Portugal ran incredibly high deficits and ran their debt up very high, something they are now fixing.
Thats is not austerity stupid, that is failed austerity
The goal is to
reduce the debt to sustainable levels
Two decades of continues defects , they try to cut back but still borrow more year after year & then say fuck it , borrow & spend for growth, all the while increasing the debt
That is not austerity as they never got to balance , let alone pay off debt, before saying "I do not like this, lets spend"
Of course they didn't stop the deficit on a dime assuming power, that's just idiotic.
We shall see how close Dougie gets after a couple of years of cutting
How in the world can you say that ?
All portugal has accomplished is too accelerate forward the day when the shit hits the fan.
borrowing more to simulate an extra 1-2% GDP growth is idiotic when the interest paid on that borrowed money will cost 3-5%
Low single digit economic growth is more than offset by compounding interest & the debt continues to grow
Persistent borrowing just steepens the trajectory
Its easy for me to find examples, but we know you can't find a single example of austerity every succeeding, which is why the best you can do are grade 3 level insults.
For the tenth time Canada in 1980s was paying 25% of every tax dollar in interest. Paul martin cut government spending & used the GST to pay down that debt to a more sustainable level
How many times must you be told for this fact to sink in?
Your chart shows that debt to gdb ratios are getting better in Portugal while they get worse in the US.
https://tradingeconomics.com/united-states/government-debt-to-gdp
Best you complain to Trump about that
He also foolish ignores debt
Nice company you keep
Note that even Canada is improving since we got rid of the conservative policies of Harper.
Dont be so stupid. The canadian economy is doing well because of unsustainably low interest rates and very strong growth in the USA (tax cuts)
Your policies fail.
Every time.
Free enterprise & small government has provided prosperity for North America over the long haul
Emulate Venezuela? I do not think so
Now answer these questions
Please explain how the debt is reduced when one borrows persistently
Show us how this a real plan which does not ignore debt out of convience
please indicate exactly when the IMF initiated and forced portugal's govt to continue to run deficits and continue to borrow ?
you can not explain what you do not understand or ignore