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{
    "id": 1259650,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1259650/?format=api",
    "text_counter": 40,
    "type": "speech",
    "speaker_name": "Dadaab, WDM",
    "speaker_title": "Hon. Farah Maalim",
    "speaker": null,
    "content": "that. You can trade off that organisation, sell it and pay the debtors in many different ways and none of them will end up not getting paid their debts. The other option is to pump more money into the corporation, trade off certain divisions that are not profit-making, reconstruct the management of the organisation and make sure the company can progressively, over a period of time, begin making fewer losses, break even and begin making profits and finally become a very profitable organisation and declare dividends to the shareholders. The Republic of Kenya and the Government of Kenya is a corporation, and the people of Kenya are the shareholders. When we have a problem with debts, the situation should not be to take more debts. Take more debts, restructure the management of public affairs, put more infrastructure to enable businesses and different sectors of the economy to improve and thrive and progressively, you are going to make profits, and the country will be well. During the Great Depression, and the Americans were lining up for soups in the streets, what did Franklin Roosevelt do? He pumped money into the public sector, billions and billions of dollars, in what was called the “New Deal”. Today as we talk, Japan, which is one of the most powerful economies in the world, has a public debt of 263 per cent of its own GDP. We have a public debt of below 70 per cent of our GDP. It is actually 62.5 per cent. The US has an economy of GDP US$24 trillion. Today's total US debt is US$36 trillion, 170 per cent of its GDP."
}