Reverse alchemyThe Grand National Party has recently failed to meet our expectations. It is doubtful whether it has the determination to assume power in the next presidential election. Like an incompetent alchemist, it has turned a golden opportunity into dross.
While President Roh was pushing hard for the FTA deal, the Grand National Party was almost invisible. Even after the pact was signed, the party chairman Kang Jae-sup said the deal is one thing and getting the National Assembly’s approval is another.
That’s not all. The party complained that the government’s real estate policy was against market principles, but they still helped pass the housing law amendment. To hypocrisy they added irresponsibility when they blocked the national pension program. By 2047, the fund will dry up and have a huge deficit. The bills to revise the pension law were passed by the National Assembly’s standing committee but were turned down by the National Assembly. Our children will have to bear the burden. There is more ― the bill for an old-age pension passed. This program will grant pensions with taxpayers’ money. Next year, the program will cost 2.4 trillion won ($2.6 billion). In 2030 the figure will be 19 trillion won.
The Grand National Party, the country’s conservative leadership, may have changed into a leftist party when nobody was looking.