Trillions and counting: The mountain of debt next president has to climb [Inquirer]

From the Inquirer: As the country moves closer to the 2022 general elections, while the replacement of President Rodrigo Duterte is uncertain, there’s one thing definite about what the next president would face—a mountain of debt.

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Ping: Pandemya Magtatala ng Pinakaseryoso, Pinakamahalagang Halalan sa 2022

Senate President Tito Sotto and Senator Ping Lacson in La UnionLA UNION – Maitatala bilang pinakaseryoso at pinakamahalaga ang pambansang halalan sa susunod na taon bunga ng samu’t saring problemang kinakaharap ng bansa na pinangungunahan ng pandemya sa COVID-19.

Binanggit ito ni Senador Panfilo Lacson sa pakikipag-usap niya at ni Senate President Vicente Sotto III sa mga mamamahayag na nakabase rito, bilang bahagi ng kanilang “Tour of Luzon” na konsultasyon sa iba’t ibang sektor sa mga posibleng solusyon sa mga problema ng bansa.

Apela ni Lacson, dapat na maging matalino at mapagmasid ang mga botante sa pagpili ng mga susunod na lider ng bansa batay sa mga problemang kinakaharap ng mga mamamayan.

“This is serious, very serious especially because of the pandemic. I think the decision we will make in 2022 is the most serious and important decision we all have to make and we should really think carefully,” banggit ng senador.

“My hope and prayer is that the campaign leading to the May 2022 polls will be a campaign of issues, and not a campaign of entertainment,” dugtong ng mambabatas.

Read in ENGLISH: Lacson: Pandemic Makes 2022 Election the Most Serious One in PH History
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Lacson: Pandemic Makes 2022 Election the Most Serious One in PH History

Senate President Tito Sotto and Senator Ping Lacson in La Union

LA UNION – The general election in 2022 may be the most serious and important in recent Philippine history, especially because of the problems the country is facing brought about by the pandemic, Sen. Panfilo M. Lacson said.

In a chat with local media here, Lacson said Filipinos must think wisely and consider the current problems and issues carefully in selecting the next leaders who will address the humongous problems facing the nation.

“This is serious, very serious especially because of the pandemic. I think the decision we will make in 2022 is the most serious and important decision we all have to make and we should really think carefully,” he said.

“My hope and prayer is that the campaign leading to the May 2022 polls will be a campaign of issues, and not a campaign of entertainment,” he added.

Basahin sa TAGALOG: Ping: Pandemya Magtatala ng Pinakaseryoso, Pinakamahalagang Halalan sa 2022
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On the Challenges Facing a Leader

Sailing into the sea is the easiest decision to make. Not knowing how rough the water is the dangerous part. Measuring one’s skills in steering the boat is a big responsibility especially when people’s lives depend on it. Best to think long and hard. It is not a game or a joke.

This applies to everyone, actually. Consider the following:

* Outstanding national debt of P10.774 trillion as of March 2021, ballooning to P10.991 trillion as of April 2021

* 3.44 million Filipinos out of jobs as of March 2021

* Shortfall in revenue collections, with revenues at P2.84 trillion already including non-tax revenues like dividends, fees, etc., compared to the original target of P3.25 trillion, based on the Development Budget Coordination Committee’s 2019 projections for the 2020 General Appropriations Act.

Then there’s the continued uncertainty of the pandemic situation in the country and the whole world, not to mention a whole lot of other problems that will confront the next administration like the West Philippine Sea, illegal drugs, corruption and even issues surrounding the Bangsamoro Autonomous Region in Muslim Mindanao, and God knows what else.

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Ping: ‘Nakahiligang’ Pangungutang ng Gobyerno, Saan Napupunta ang Pondo?

Utang dito, utang doon, pero ano ang kinahinatnan ng perang inutang?

Ito ang tanong ni Senador Panfilo Lacson kasabay ng pagsasabing maaaring kailangang manghiram ang pamahalaan para manatiling nakatayo ang ekonomiya ng bansa, pero dapat na nakikita ang kaakibat na resulta ng sangkaterbang salapi na inuutang.

Ang mga serye ng pangungutang ng pamahalaan ay lalong natambad kay Lacson nang una siya naging senador noong 2001.

“When I first became a senator in 2001, our national government’s outstanding debt was P2.88 trillion. Over the Arroyo, Aquino and Duterte administrations, it has ballooned to P10.027 trillion as of October this year, from P8.2 trillion at end-2019,” banggit ng mambabatas sa panayam ng Radyo 5.

Related: Sad Reality: Lacson Scores Government Penchant for Borrowing
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