President Noynoy said that in his first three weeks of serving the Filipino people he was able to unearth anomalies committed during the previous administration. To mention a few:
The first six months of the current year, Arroyo’s administration spent more than what it has collected in terms of revenue resulting to an increased deficit to P196.7B. Of the targeted revenue collection, the shortage was P23.8 B. The expenditure exceeded by P45.1B.
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1960s A Pro-Soviet Tyranny
1959-1960: Following Fidel Castro’s overthrow of the dictatorial Batista administration, a host of people, including children and women, welcomed the arrival of guerrillas, but they turned the Island — about the size of Tennessee– into a place of repression. On the other side, Raúl Castro had been hand-picked by his brother, Fidel Alejandro Castro Ruz, as the second leader of the Cuban Revolution. In the meantime, in the early years of the new regime, up to 3,200 Cubans had been slaughtered by Fidel Castro and his family. On the economic side, Castro nationalized all U.S. businesses (without compensation). In fact, these events marked the beginning of one the world’s worst undemocratic governments. Toward the end of 1960, Washington imposed an embargo on Cuba.
1960-1980: As a consequence of the totalitarian policies, over one million Cubans had fled to America (chiefly Florida), Canada, Mexico, Venezuela, Spain and Italy.
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Recent news stories remind me of an old Sunday Peanuts comic strip. Snoopy is out jogging one day when his knees start to complain about the punishment they are taking from the jog. The feet then chime in about how they are taking the most pounding and how much they hurt. The lungs then volunteer that they are absorbing the most punishment since they have to work so hard pumping air into the body. The ears even complain about how cold they are and why were they outside jogging anyway. At that point, the heart says something to the effect that they are jogging for the heart’s benefit because if the heart goes, everything goes. At that point, all body parts go silent and the jog continues.
So it goes with the Federal budget deficit and our skyrocketing national debt.. If we cannot fix our fiscal situation, nothing else matters. Much like the heart, if the financial foundation of our country is destroyed, then nothing else has any importance. You cannot even talk about global warming, a national energy program, improving public schools, fighting drug addiction, defending the country, helping out the needy, creating and maintaining job growth and economic growth, nothing else. If the heart goes, it does not matter how strong your legs are or how much air your lungs can pump. Much like the heart, sound fiscal policy makes everything else possible.
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