Moon Administration Wants to Raise Government Spending Because of Poor Economy
The Moon administration’s response to their poor economic policies appears to be to just spend more money:
President Moon Jae-in ordered the government on Thursday to spend more aggressively to solve problems such as slowing growth, weak jobs and worsening demographic changes.
Joong Ang Ilbo
“There are many areas in which we are still inadequate where people could feel improvements in the overall quality of their lives,” Moon said during a government national fiscal strategy meeting in Sejong. “There’s a need for the [government] finances to take a bolder role, more than ever, in urgently solving our society’s structural problems from low growth, polarization [of the top and bottom tiers], jobs, low fertility rate and aging population.”
Although this is the third meeting held under the current administration, it was the first time that the meeting was held in Sejong instead of at the Blue House.
“We’re at a turning point where we have to look back on our achievements in the last two years and prepare for the remaining three years,” Moon said.
Moon particularly stressed that low-income people outside of the employment market, such as those who run small businesses like restaurants and convenience stores, need help.
“Self-employed people and those in lower-income households are struggling the most and this hurts me,” Moon said. “There is a demand for a more aggressive fiscal role in expanding jobs, enhancement on job safety nets such as introducing a system where additional financial support is provided for those whose unemployment paychecks has ended and measures for self-employed businesses.”
You can read more at the link, but the whole reason small businesses are struggling and unemployment is up is because of the steep minimum wage increase that has raised labor costs and caused major job layoffs.
Commie Moon doing his best to bankrupt the ROK for the coming Fatty takeover.
And the fans of Cloward-Pivens did greatly rejoice and praise the golden calf with loud praise, not realizing their wallets had been lifted…
stupid commie moon’s failed economic policies caused it, so he want to throw good money after bad….typical commie solution. Economy was great under the current rightful President of South Korea, President Park, since the illegal judicial coup and the commie policies introduced by the leftist that seized power South Korea has been in a tail spin. Koreans you talk to will tell you it is far worse than during IMF crisis in the ’90s.