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{
    "id": 1382438,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1382438/?format=api",
    "text_counter": 324,
    "type": "speech",
    "speaker_name": "Githunguri, UDA",
    "speaker_title": "Hon. Gathoni Wamuchomba",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. I rise to support the adoption of the financial resolutions but with a caution. The story of deficit is deafening. Every time we speak about loans and budgeting processes in this House... I was reading an article – and I do not know how credible it was – that was written by somebody who is not in Kenya. That article made me feel scared. The article outlined the extent to which Kenya has borrowed. We have borrowed loans that will be comfortably repaid after 29 years from the day the article was written. That really scares me. That means that, any child that will be born today will have to wait for 29 years to be off the debt. That is not very good news. This House must interrogate and inter-interrogate the processes of borrowing in this country. Other countries have moved away from deficit to something we call “national sovereign wealth.” It is sad that in Kenya, we no longer talk about sovereign wealth; we talk about debts. In other words, what we are investing for our young generation is not generational wealth but generational debt. That means that the future of this country will be sunk in debts. So, even as we speak in this House and say that the Auditor-General must be fired because she highlighted a lot of issues that concern Kenyans in debt, we must ask ourselves if we are being fair to the future generations of this country and to what extent have we created generational wealth that young Kenyans will forever enjoy. Otherwise, the story of deficits and loans is really saddening. As I support this policy and recommendations, I want to be on record to put a caution that, it is time to we start moving from deficit to what we call “national sovereign wealth.”"
}