AFTER my afternoon mass in Malacañang, I got to talk with President Gloria Macapagal Arroyo about the economic situation.
"The government is paying a lot for budget deficit and ballooning foreign debt, Father," the President said. "We’re trying hard to raise the much-needed money to pay them."
On the foreign debt, the President said, we are paying only the interest. We can not keep on borrowing because we will get mired and can no longer get out so we have to generate funds from within.
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"This is why we have to initiate tax measures, like collecting more taxes through the expanded VAT scheme, increasing the 10 percent VAT to 12 percent.
"I hope the people will understand," President Arroyo added. "I will not shy away from making the tough decisions to raise the rate and I believe that this is the only way to move the nation forward."
"I will work day and night to raise government revenues from tax avoiders, to cut wasteful government spending and encourage investments."
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Raising taxes and going after the tax avoiders are not easy and will always be disliked. This was shown in the result of recent surveys wherein her popularity ratings plunged.
But it was a sacrifice the President had to make for the greater good of the country.
With the fiscal measures being set up, President Arroyo hopes to raise funds to undertake projects like infrastructures, thus generate also much- needed employment.
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So let’s give the President a chance. Things get worse before they become better.
Here’s an unsolicited advice: President Arroyo should see to it that the funds will not go to the pockets of corrupt officials and that they won’t go to waste in useless and costly projects or "white elephants."
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Talking of useless and costly projects, we have a classic example in the Bataan Nuclear Power Plant.
Did you know that taxpayers have paid for almost 20 years
R61 billion and will still have to cough up R6.3 billion more to pay off loans on the $2.2-billion Bataan Nuclear Power Plant that is mothballed and has not produce a single watt of electricty?
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House appropriations committee chairman Rep. Rolando Andaya Jr. of Camarines Sur said interest and principal payments for the plant will run up to
R2.1 billion alone this year.
"That’s
R5.8 million a day for a plant that can’t even light a single bulb."
An international corruption watchdog group recently listed the Bataan Nuclear Power Plant as one of the most graft-ridden projects in modern history.
That’s just one of the "original sins" inherited from our first "parents."
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LAFFS. After delivering a speech to an all-women group, a politician who doesn’t know much English bragged: "After my speech, the audience gave me a standing ovulation (ovation)… and it was given on the sperm (spur) of the moment!"
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A former president of the country once told his vice president how hard it is to be the chief executive of the country: "No matter how hard I try, people are not contented. I just can’t please everybody."
Sympathizing, the vice president said, "I can see that, sir. That’s why I don’t envy your shoes." (He wanted to say: "I don’t want to be in your shoes.")
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That VP eventually became a President and personally experienced being deluged by complaints.
For instance, an officer kept complaining about perennial lack of funds. The President chided him: "Puro ka na lang reklamo. I’m tired of your reclamations."
