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After President Moon Jae-in discussed the “financial difficulties” after deciding on the “selective payment” of the second crown grant, Kim Sang-jo, chief of the Blue House Policy Officer, said: “Yes the national debt ratio is not properly controlled, there may be a very dangerous situation in the medium and long term. I said. Even after countless warnings about the indiscriminate dispensing of cash and addiction to taxes, the attitude of people who do not They moved suddenly changed, saying, “Financial concerns.”
It is not difficult to guess why the government has organized a super budget (556 trillion won), which has also increased the budget for next year by 8.5% over this year. This is because an excuse is needed for not paying the second subsidy to the whole town as in the first period. The rate of fiscal deterioration was so rapid that the risk of a national credit rating downgrade during the term increased and the storm began to appear.
President Moon implemented a “never experienced country” in fiscal indiscrimination. The real economic growth rate remained at 6% for four years after the government took office, while the national debt increased by 43%. The debt growth rate exceeds 7 times the economic growth rate. In recent years, the national debt will exceed 1,000 trillion won. International credit rating agencies have warned that if Korea’s sovereign debt ratio exceeds 46%, its credit rating could deteriorate, which it will cross next year (46.7%).
The ‘free virus’, which the government mobilized taxes to sow up and down, infects all people, and now it is difficult to stop it. This year alone, unemployment benefits of 8 trillion won, work incentives of 5 trillion won, children’s allowance of 2 trillion won, and various taxes up to 14 trillion won were added in disaster relief for all citizens. All citizens tried the free cash. Election and construction projects are underway across the country on a scale of several trillion won. When taxes are not raised, they are in debt. You seem to be seeing a runaway locomotive. Local governments are also racing to dole out cash in all manner of names, such as farmer allowances, school uniform allowances, and support for field trips and school trips. 46% of the people agree that the second disaster grant should also be given to all people. Hence, the populist government is in the dilemma of having to ‘pretend to be concerned’ about the debt issue.
There is no authenticity. A help of 20,000 won for communication fees was included in the fourth supplemental supplement for the second grant payment. In order to alleviate national complaints missing from detection support, they will also give out hundreds of billions of free money. In next year’s elections and next year’s presidential elections, they will be taxed again.
