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{
"id": 1451129,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1451129/?format=api",
"text_counter": 4513,
"type": "speech",
"speaker_name": "Embakasi East, ODM",
"speaker_title": "Hon. Babu Owino",
"speaker": null,
"content": "With regard to borrowing, Franco Modigliani, an Italian-American economist, clearly came up with theories of consumption, to be precise, a life-cycle hypothesis. He came up with the idea of the debt system, that you should borrow what you should enjoy in 70 years to come. You can enjoy it now. Borrow and enjoy it now, as you repay on a quantum merit basis. So, borrowing is not wrong, but borrowing for corruption is wrong. So, I stand to support this Budget because the Generation Z spoke. The Generation Z are in universities and they need their varsity fees to be reduced. The Generation Z need to be employed, because these are people who have graduated, but there are no jobs. Thank you."
}