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Showing posts with label debt. Show all posts
Showing posts with label debt. Show all posts

Saturday, November 30, 2024

Are we building a society of mendicants and ayuda dependents? Are Ayuda funds the answer to Philippine progress?

It is more fun criticizing

The Senate si questioning the AKAP funds amounting to P39 B and may be for the right reason.  It together with other funds likek 4ps is sinking the country deeper into quagmire of rising debt, now at PHP 15 trillion.   The BIR and BoC are ill equpped to reach their own collection targets.  Many taxpayers have not fully recovered, and many have taxpayers fatigue with all the news of inept fiscal management.

I was in a meeting before with a govt executive who told a story about his cousin whom he gave free board and loding while studying the City's Unversity.  He was fortunate to have a job, as an OFW.  Upon his return, he was forking out a nice sum to the govt executive.  Which the latter refused immediately.  

He said it was a slap on his face  It awakened him to a reality that that was an insult.   As a person, you must live to give, not to receive.

As is now.   If you are citizen it is your duty to contribute to earn for the community.  To be called a makabayan.  Not to receive doleouts from govt and from others.

This AYUDAs create a culture of mendicancy and lackk of initiatibve and industry.  Its entirely counter prodcuctive and can not push our country to progress.   No one will strive to study, to fund a job, work hard to earn, and thus contribute to country's progress and patrimony.

Whoever thought of this is creating a  govt sponsored/funded kitty fund for launching a nationwide campaign to get elected

It is time to balance and re examine the social welfare role, and revenue raising role of the govt.





Monday, October 21, 2024

Proposed budget and actual revenue collection, financed by borrowing at rate of P5 billion per day

It is more fun criticizing

The proposed budget is P6,352 trillion, and the projected revenue collection of P4.45 trillion or a deficit of P1.902 trillion /365 = 5.21 billion per day.   Thats the amount of borrowing we have to do in a day.     The annual budget is P6.352 =   P17.402 billion per day, sourced from  P12.19 revenues.  And the balance from borrowings.   

We wonder how our congressmen, legislators and govt officials can spend that much, and rely on deficit spending (financed by debt)  So dont wonder why our debt stock that was only P11 trillion at the start of the year is now over P15.00 trillion    As of the end of June 2024, the Philippines' national debt stock was P15.48 trillionThis is a 9.4% increase from the same period in 2023. 


Monday, August 5, 2024

The alleged P700 billion pork of the OP is worrisome and must be subject of vigilance

It is more fun criticizing

The reported P700 billion pork budget of the OP is worrisome.  Some say this is unconstitutional, and is suspect, Considering the past mistakes of unfettered administration.  This is 7/10 of a trillion and a good % of the national budget.  Wow

And that some of the GOCCs funds including that of Phillhealth (also SSS?)  shall be dipped into.   And to think that our country is getting deeper into debt.

Let us be aware   Join the vigilance over this unconstitutional acts

Tuesday, March 15, 2022

Incurring huge foreign and local debts to alleviate the pandemic

It is more fun criticizing

The current govt is highly criticized for incurring more trillion in debt.  Undoubtedly, the huge debt were used for the:   1.  billions in SAP   ayuda 2.  vaccines,   3.   test kits and PPE under the BAHO law.

Where must the govt stand:    1.   Support the huge funding during the pandemic  or  2. let it be for the pandemic.

The economic managers maintain that the debt is within limits

I think this govt chose to support the expenditures for the pandemic.   And we must thank the leaders for doing that.   As to whether there was graft, may be its a different matter.






Thursday, October 9, 2014

"Kayo ang aking boss" what does it mean?#KBL (Kasal, Binyag, Libing

It is more fun criticizing

From Sona of Pnoy - from Inquirer



Rizal  Philippines   |  October 9, 2014

For all we know, this is a political gimmickiry.  All aimed at getting votes.

That means too that the President must pay the price:   favors, employment,  contracts, and maybe DAP and PDAF.

No less than the President himself declared war vs KBL -  Kasal Binyag Libing.  They pose difficulty for all elected govt officials.  Yet political patronage, our political system, the slogan. "kayo ang aking boss" dictates that the elected official given in to that. Such a contradiction.

Sunday, February 16, 2014

From Huffington Post - US locking people in jails for being poor (cant pay fines and legal fees)

It is more fun criticizing

#prison, #debt, #US

From Huffington Post - US locking people in jails for being poor (cant pay fines and legal fees)

How can this happen in the land of the free.

I thought that no one can go into servitude or be jailed for debts.  But that is happening in US now.

How?  Why?