fiscal management

Norway Escaping Global Recession - How? Sound Economic and Fiscal Policies

Oh those socialists! The New York Times has a profile of Norway and their fiscal responsibility. Their economy grew while other shrank.

With a quirky contrariness as deeply etched in the national character as the fjords carved into its rugged landscape, Norway has thrived by going its own way. When others splurged, it saved. When others sought to limit the role of government, Norway strengthened its cradle-to-grave welfare state.

And in the midst of the worst global downturn since the Depression, Norway’s economy grew last year by just under 3 percent. The government enjoys a budget surplus of 11 percent and its ledger is entirely free of debt.

Maybe we can get off of the philosophies and move onto common sense, efficient, prudent fiscal and financial management.