Keep your hair on EDITORIAL 06/11/2010

Keep your hair on

EDITORIAL Click to enlarge 06/11/2010 The more appropriate word to greet President-elect Benigno “Noynoy” Aquino, should not be congratulations but good luck with the hair-raising problems that he is inheriting from Gloria Arroyo, whose plunderous reign spanned nine years. Thus, he is assuming the presidency with the highest expectations ever for a new president with the least resources left available in government. In his press conference after being proclaimed by Congress, Noynoy mentioned the back-to-back fiscal blowouts of P298 billion last year and more than P300 billion this year as a major challenge for his administration. The huge fiscal shortfalls mean pressures to cut down on government spendings or to bridge the gap with increased borrowings that would add on to the country’s already gargantuan debt pile of more than P4 trillion. Since a big part of the budget is automatically appropriated, Noynoy, if he adopts a tack on spendings cut, would be looking at slashing the already limited social expenses in the budget that spells trouble for any administration. Noynoy added that he would continue Gloria’s cash transfers program, “without its political undertones,” as a form of social assistance to the poor. A drastically reduced budget would, however, make such effort an exercise in futility.  That seems just for starters, the United Nations (UN) itself had called the attention of Noynoy on commitments the country made on reducing poverty and hunger which were apparently kicked to the wayside under Gloria..... MORE   Source:  The Daily Tribune URL: http://www.tribuneonline.org/commentary/20100611com1.html

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