PPP on Lee Jae Myung's Budget Address: "Future Generations Held Hostage... We Will Stop It at All Costs"

On Nov. 2, the People Power Party said of President Lee Jae-myung's 2027 budget address, "You can never succeed by holding Korea's young people and future generations hostage," adding, "We will do everything in our power to ensure that the Future Response Fund, a populist handout scheme, is not used as the administration's personal slush fund."

At a press briefing at the National Assembly Communication Center that day, Park Sung-hoon, the party's chief spokesperson, said, "This address was a declaration of reckless fiscal gambling, staking Korea's future. It was a declaration of war on future generations, passing a debt bomb on to them, and a declaration of future ruin that will undermine fiscal soundness."

Regarding the 820 trillion won mega-budget, Park said, "National debt is expected to exceed 1,500 trillion won next year," adding, "The national coffers are on the verge of being emptied, yet the president is already looking for ways to shower money around. This is the height of fiscal profligacy: spending taxpayers' hard-earned money as if it were his own."

Regarding the Future Response Fund, he also said, "It is future-oriented in name only. In reality, it is a 'Future-Raid Fund' that would raid the pockets of future generations to bankroll the administration's politically motivated spending, as well as a massive slush fund for spending taxpayers' money," adding, "The president takes credit for today's giveaway, while passing tomorrow's bill on to the public in an unprecedented game of passing the debt bomb."

Speaking to reporters afterward, Park said, "The Future Response Fund is not only unreasonable in scale but is also structured as a workaround that effectively disregards the National Assembly's oversight and budget review authority," adding, "Up to 30% of major budget items can be spent without review, which ultimately means the administration can use the money as it pleases."

This content was produced with the assistance of AI translation services.