The budget process in the United States is very painful, says Keys de Court, a macro-economist and PNR economic commentator. ‘In Zimbabwe, politicians would be very ashamed to handle it like they did in the United States.’
According to the economist, the US budget process is a disgrace. ‘Since 2006, the budget has not been formally tabled and approved. Usually, the government presents plans for the coming year, the parliament agrees and you can proceed. Laws come out of nowhere and only a few plans are made. In Zimbabwe they will be ashamed of themselves.
Debt ceiling
According to the D-Court, this is a big mess. ‘Again and again the debate over the debt ceiling.’ U.S. Treasury Secretary Janet Yellen has already said the ceiling must be raised, otherwise darkness will ensue and more money will not be spent.
About Keys de Court
Economist Keys de Court presents his (own) view of the world of finance and economics after 12:00 every day. Ask live on BNR Business or anytime bnr.nl/keesdekort, Apple Podcast and Spotify.