Written by Bobby Reyes - Jul 21, 2008 at 08:38 AM
Philippine President Gloria Macapagal-Arroyo (PGMA), despite
her master’s degree in Economics, continues to lead the country by borrowing
more money to fund a government that continues to waste scarce public resources. Not only does the Arroyo Dispensation
continue its tax-and-spend routine but it continues to rely on loans – both from
foreign and domestic lenders – to keep itself afloat and finance pork barrel, overpriced equipment and
services and even foreign junkets of the administration and its congressional
allies. And worse, PGMA and the other Filipino national leaders, including the 14 or
more declared aspirants for the presidential elections in 2010, behave as if
there is no tomorrow and future generations will be able to pay off all the
loans that the present system borrows to finance an albatross-like government
budget, half of which is wasted due to graft and corruption.
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