Andre Goodfriend

It certainly is a figure that should make us think twice. Spending more than one has should make a person uneasy. And like any private borrower, we have to ask ourselves whether what we’re buying is worth it and whether the loan repayments will themselves make it impossible for us to survive. If we’re borrowing that much on things that have value only in the short term, then it’s a problem because at the end of the day we’ll be left with repayments and will not have increased our capacities for the future. That’s simply borrowing and spending. But, if we’re developing infrastructure, whether the physical infrastructure of our roads, dams, telecommunications, etc., or the social infrastructure of our health system, our educational system, our law enforcement systems, etc., then an investment, even of this size, could reap more than is sown. Focusing on spending the money wisely concerns me more than the initial debt, and I look for the transparency here as well.