Joo Ho-young: "President Moon, Please Don't Let Us Become a Debt-Ridden Nation"

“Is Cooperation Just Following What the Blue House and Ruling Party Do?”

Joo Ho-young, floor leader of the People Power Party, is attending the Emergency Response Committee meeting held at the National Assembly on the 29th and delivering opening remarks. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Lim Chun-han] Joo Ho-young, floor leader of the People Power Party, criticized President Moon Jae-in's policy speech on the 29th, saying, "The 2022 budget proposal was said to contain the will to become a leading country beyond the crisis," and added, "Compared to the Lee Myung-bak administration's budget growth rate of 5.9% and the Park Geun-hye administration's 4%, the Moon Jae-in administration's budget spending has increased by more than double, exceeding 9%."

At an emergency meeting held at the National Assembly that day, Floor Leader Joo said, "They keep increasing the scale of fiscal spending year by year, breaking records for the highest ever, but they do not mention any plans to reduce debt," and added, "Far from becoming a leading country, we are bound to remain a debtor nation."

Floor Leader Joo pointed out, "Using the ineffective fiscal rules as an excuse, they are borrowing to the limit and spending, and after their term ends, they just wash their hands of it. This is absolutely unacceptable," and said, "We do not even expect to become a leading country. I just ask that we do not become a debt-ridden country, a debtor nation, or a country in debt."

Regarding being body-searched by Blue House security guards the previous day, Floor Leader Joo stated, "President Moon Jae-in is increasingly distancing himself from cooperation," and added, "Until now, I have never directly received any statement from the Blue House regarding that matter."

Floor Leader Joo said, "The cooperation that President Moon talks about is simply following what the Blue House or the Democratic Party does; if not, it is not cooperation," and added, "We have many intentions to cooperate, but it can only be seen as political propaganda claiming that the opposition party does not agree."