We no longer hear about "automatic increases in tax revenue." Instead, over the past decade we have heard so much about "deficit-covering government bonds" and "bad debts" that they have almost become household words.
The term "bad debts," which was created by bankers, is offensive to borrowers because there is nothing "bad" about borrowing money from banks. They should be called "debts in arrears."
In parliamentary debates, lawmakers continue to talk about "bad debts" without hesitation. Instead of speaking on behalf of the citizens who elected them, they speak on behalf of bureaucrats and bankers. This is unreasonable.
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