Nagulat ako with all these news na para syang puzzle and I put them all together at eto ang nakita ko saking bolang kristal na nakabitay between my legs:

“The Philippines budget deficit soared 17 percent above the official target last year as spending rose to offset the impacts of the global financial crisis, an official said Monday. The deficit hit 293.2 billion pesos (6.35 billion dollars) in 2009, equivalent to 3.7 percent of the gross domestic product (GDP), a finance department official, who declined to be named, told AFP. This exceeded the government’s initial target of a 250-billion-peso deficit, equivalent to 3.2 percent of GDP. Explaining the deficit, the official cited data showing revenue collection had gone down this year as expenditures soared due to government stimulus efforts to cope with the global financial crisis.”(Source: MSN News)

GOVERNMENT STIMULUS?!

Nahhh! Was there one?!

~kamut-singit~

Leche oo!

What’s interesting though is that, given the deficit, para bang nakalinya na ang mga bwitre to take the opportunity and make utang sa gobyerness. Of course, wez namang choice ang gobyerness natin but make utang, as they have already trumpeted that many times over sa media. Understand that our gobyerness insatiability for government spending err corruption is second to none.

So what do we have? Well, eto.

“Global debt watcher Moody’s Investors Service has upgraded its fundamental credit outlook on Philippine banks to stable from negative due to improving economic conditions. The Philippine banking system was one of the 12 banking industries upgraded by Moody’s in its latest Asian banking industry outlook.”(Source: GMA News)

O, laban kayo? You know what that means? It’s like, Moody’s just switched the green light for greedy lenders and our gobyerness to ran amuck, meet one another, porsyento ever and make utang once again dahil we are able to make bayad any utang we make. Remember what we learned about Sovereign Guarantee? Read it here: “The next president after me will be lucky!”, Gloria Arroyo.

And as if to make domestic and foreign lenders be comfortable with the fak that they’d earn himalayan interest on their loans, the Millennium Challenge Corporation (MCC), an independent foreign aid agency giving grants to developing countries gave excellent PASSING MARKS that the Philippines’ fight against corruption is improving. (Source: GMA News)

Huh?!

Have they seen the mala-dealership car garage nang mga Ampatuan coupled with their dose-dosenang palatial houses in the middle of Maguindanao poverty?

Have they driven along Daang-Hari? That notorious C5 Extension resulting in an epic crap-shit by our Senators? Anyway, gawd that Daang Hari, what an awful street name! Ba’t di na lang gawin yang Reyna Elena Avenue to make it sound better?!

So, let’s review. I think, everything is in place para tuluyan na tayong isadlak ever sa utang.

1.) Budget deficit continues to hound us sa walang pakundangang gasto nang gobyerness.
2.) Sabi nang Moody’s, we have excellent financial standing, so we can make bayad any utang we make, providing tender loving care and comfort sa mga international bankers.
3.) Second the motion naman ang MCC, corruption controls daw is improving, so any attached projects sa utang will be in good hands, providing tender loving care and comfort naman sa population na it’s ok to make utang.

Pwes! Kung ganun, eh ano pa nga ba ang gawin? Eh di pork bariles uli!

“Senators and congressmen have increased their Priority Development Assistance Fund (PDAF) or pork barrel fund for this year by nearly P4 billion, to P10.861 billion. Tens of billions more in funds for “hard” projects are embedded in the budgets of infrastructure agencies such as the Department of Public Works and Highways (DPWH), Department of Transportation and Communications (DOTC), and Department of Agriculture (DA) for farm-to-market roads and irrigation canals. “

“President Arroyo recommended P6.940 billion for the PDAF of senators and congressmen in her proposed P1.541-trillion 2010 national budget. The amount is P700 million more than the level she proposed in previous years.” (Source: Phil Star)

I know, I know, the President’s salary is only – magkano ba? P45,000 a year, right? I don’t know how much the Senators, Congressmen, Governors, Mayors, kabit are earning. But I am never convinced that it is say, P45,000 a year, rather, it’s P45 thousand-many-times-over-thousand pork barrels a year. Otherwise, why would these candidates spend millions and billions on their political campaigns?

All I know is that, once they become pork barrel, 99% nag-di-dis-appear.

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reynz is one Uragon and a Filipino-American, has many years of public accounting & auditing, broadcast investments, housing tax credits and equity investments as his background. Based in the US, he maintains his personal and humor blog at reyna elena dot com. A graduate of Aquinas U, he went to GWU and Temple U in the United States.