Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts
Money woes threaten the budget of at least 10 US states
It is not enough to know that New York State has its own money trouble. According to the Washington based Pew Center, California together with 9 other states are on the brink of budget disasters. The group’s analysis put lawmakers and governors in these financially troubled states on notice to the looming increase in taxes, employee lay-offs, and slowing of government services. The economy deteriorates in California, Arizona, Florida, Illinois, Michigan, Nevada, New Jersey, Oregon, Rhode Island and Wisconsin.
According to the report, quick action is needed to mitigate a fiscal disaster. Double digit budget deficits are rising with poor business, massive unemployment, and uncontrolled housing slump and foreclosures. The 10 vulnerable states are home to a third of the American population---California, with a huge economy is mentioned as having the highest risk
“California leads the most vulnerable states identified by Pew, which describes it as having poor money-management practices. According to the Legislative Analyst's Office, California has made nearly $60 billion in budget adjustments — in the form of cuts to education and social service programs, temporary tax hikes, one-time gimmicks and stimulus spending — since February as tax revenues plunged.
Many of those fixes aren't expected to last. The state's temporary tax hikes will begin to expire at the end of 2010, while federal stimulus spending will begin to run out a year after that.”--- AP (11/11/09, Lin, J.)
By estimates California will incur a huge deficit hovering at $12.4 billion and $14.4 billion next year. This may be about 17 percent of the state's $84.6 billion general fund budget that is used for daily operation. Governor Arnold Schwarzenegger predicts more budget cuts are in the offing as a corrective measure.
The poor economy is creating undue stress of many Americans. They are learning the hard way to live within their means. The public is realizing that USA can’t buy its way to prosperity (i.e. by extravagant stimulus packages, unbridled borrowing and spending) as what the current government is doing. The country under Pres. Barack Obama may go through extreme financial hardship if his economic planners don’t go slow in their flamboyance and cocky spending. In this financial crisis, the government should have little room for gimmickry and naive manipulation of the economy. (Photo Credit: library.thinkquest.org) =0=
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House passes US healthcare revamp bill
On late Saturday, November 7, 2009, in a vote of 220-215, the house passes the healthcare bill proposed by Democrats that will provide coverage for 96 percent of Americans. It will make healthcare “affordable and accessible” to most Americans at a price of greater than $1 trillion in 10 years. Hailed by Pres. Barack Obama, the bill’s approval is facilitated by excluding funding for abortion (240-194 vote) previously proposed in the bill.
“The Congressional Budget Office estimates that by 2019, the bill would leave about 96% of legal residents with health insurance, up from 83% now. To pay for expanding insurance coverage, the bill calls for hundreds of billions of dollars in cuts to Medicare aimed at eliminating its wasteful spending.
It levies a 5.4% tax on the wealthy that targets individuals earning more than $500,000 a year and couples earning more than $1 million a year. All but the smallest employers would be required to provide insurance and pay for most of the premium, or they would face a fine of up to 8% of their payroll.”----Wall Street Journal (11/08/09. Adamy, J; Bendavid, N.)
The Democrats headed by Nancy Pelosi (D-CA) were jubilant. The passage was a victory of Pres. Barack Obama and party members who needed to advance their campaign promise to mend the broken healthcare system, a centerpiece project of the current administration which was left undone by those that preceded it.
Most Republicans voted against the bill and pushed their own proposal of improving healthcare that is far less expensive ---- $61 billion in 10 years. The resistance by the Republicans against the Democrat’s house version arise from many unresolved issues--- i.e. the soaring cost, high tax burden, government interference on doctorr-patient relationship and failure to drive down the budget deficit and come up with tort reform to curb lawsuits and control fraud in the system.
The ambitious healthcare overhaul will need to clear several hurdles before it transforms into law. There will be more debates and uncertainties in the coming weeks to streamline the bill’s stipulations. The senate needs to approve its own bill to reconcile with the house version before Pres. Obama can sign it into law. (Photo Credit: www.techimoto) =0=
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Severe shortage of calamity fund in RP
Just as the overspending of Pres. Gloria Arroyo on non-essential trips abroad recedes from the headlines, the reports of suffering from typhoons, ship wrecks, floods, and other natural disasters escape the attention of public servants.
Known for natural calamities, the country needs adequate allotment for disaster preparedness. Money to be used in emergencies must be a priority. But in the Philippines, the national disaster fund is only P2 billion pesos--- a meager 10% of the expected annual expenses (P20 billion) for misfortunes. With severe lack of budget, the people can barely cope during storms, floods, earthquakes, tornadoes and volcanic eruptions.
Deputy presidential spokesman Anthony Golez says the government has set aside P2 billion to cover for natural catastrophes, but the money spent so far in 2009 is already more than P20 billion. The entire budget has been spent in the first three months of the year.
This week, the sinking of three ships namely Super Ferry 9, MV Hera and MB Minham hasn’t elicited enough action except for grounding of the sea vessels and a knee-jerk reaction to quickly bury the dead, rescue survivors and bring them home. More is expected from government agencies to tackle the problems related to the disaster. The chance that anyting substatial to improve maritime travel and safety is slim.
The flaws in disaster planning are ignored by government officials who are now focused with the coming presidential election. Countless citizens are left on their own without help from social services when calamities strike. Perennial deficiencies and apathy still dominate the entire nation. (Photo Credit: Jeasm) =0=
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New world currency to replace the US dollar?
Yes! This is the proposal being pushed by the United Nations to revamp the world’s monetary system. Officials of the UN Conference on Trade and Development (UNCTAD said the money arrangement right now is not working well and there is a need for change to help correct the worldwide financial downturn.
The proposal comes at a time with China, worried about USA’s increased printing of cash has suggested with Russia that the US dollar, the current global currency must be replaced to avoid inflation.
"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors. "But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund." ----Telegraph.co.uk (09/0007/09, Conway, Edmund)
As predicted by economists, hyperinflation is a risk for the United States as the Obama Administration tries to implement its plan of excessive spending. Worrying the public of the present money crunch, the US budget deficit has worsened and risig fast. With Obama's watch, the US economy is expected to saddle a staggering 9 trillion deficit in the next 10 years putting a huge burden to taxpayers.
In the recent poll of the a Geneva-based World Economic Forum, the US dropped down only second to Switzerland as the most competitive economy in a poll conducted to greater than 10,000 business leaders. Singapore and Sweden came third and fourth respectively. (Photo Credit: =0=
Yes! This is the proposal being pushed by the United Nations to revamp the world’s monetary system. Officials of the UN Conference on Trade and Development (UNCTAD said the money arrangement right now is not working well and there is a need for change to help correct the worldwide financial downturn.
The proposal comes at a time with China, worried about USA’s increased printing of cash to buy bonds has suggested with Russia that the US dollar, the current global currency must be replaced to avoid inflation.
"Replacing the dollar with an artificial currency would solve some of the problems related to the potential of countries running large deficits and would help stability," said Detlef Kotte, one of the report's authors. "But you will also need a system of managed exchange rates. Countries should keep real exchange rates [adjusted for inflation] stable. Central banks would have to intervene and if not they would have to be told to do so by a multilateral institution such as the International Monetary Fund." ----Telegraph.co.uk (09/0007/09, Conway, Edmund)
As predicted by economists, hyperinflation is a risk for the United States as the Obama Administration tries to implement its plan of excessive spending. Worrying the public of the present monetary plans, the US budget deficit has further jumped and is expected to reach 9 trillion in the next 10 years.
In the recent poll of the Geneva-based World Economic Forum, the US dropped down second to Switzerland as the most competitive economy in a poll conducted to greater than 10,000 business leaders. Singapore and Sweden came third and fourth respectively. (Photo Credit: AP; Mary Altffer) =0=
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Obama’s projected budget deficit jumps from $7.108 trillion to $9 trillion
When Americans were told that under Pres. Barack Obama's term, the 10-year US budget deficit will reach more than $7 trillion, they could only sigh in disappointment. This was not the promise they heard during the campaign. Under Obama’s talk when he sought the presidency, he assured: USA could ride the tide of economic crisis with less spending and less worry. It was not the case.
The deficit forecast was worse than what the White House optimistically insisted. Even with $1.3 trillion deficit Obama inherited from Pres. George Bush, a jump to $9 trillion had been staggering. Amidst promises to overhaul healthcare, improve education, and bring back the country to prosperity, mounting doubts continued to erode the trust Obama enjoyed since the election. Talks of economic recovery was not consistent with persistent high unemployment.
In keeping with original forecast of the Congressional Budget Office issued early in early 2009, the budget deficit in 2010 to 2019 is expected to reach a staggering $9.1 trillion. The disclosure brings more uncertainty and trepidation to the public that tries to make sense of the planned healthcare overhaul which will cost the government greater than $1 trillion in a nine years.
Republicans are quick to point out the excessive spending of Obama. Many question how America can pay and at the same time keep its credit rating in the world market with such huge deficit.
Economists wonder if the administration can stop heavy spending without raising taxes which can slacken eeconomic growth. Time is running out for Obama to convince the Americans that he is on the right track.(Photo Credit: nmfbihop) =0=
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Chicago interrupts business day to save
To cut cost, the City of Chicago temporarily stopped government businesses by calling on a non-paid holiday for its workers on Monday, August 17, 2009. Among its services the city stopped garbage collection, closed libraries and interrupted street cleaning by asking workers to stay at home. However, emergency services in hospitals, police department and firefighting units were available.
Because of the skyrocketing budget deficit that runs to more than $500 million, Chicago reduces its services to save money just like what other cities have done. Saving of $8.3 million is expected by the partial business stoppage. There is pressure to increase taxes to close the city’s budget gap. (PHoto Credit: destination hero.com) =0=
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A $15,000 dinner tab in Washington DC adds more fire to GMA’s extravagance
It’s really easy to spend money when someone gets cash for a song. No matter how much Malacanang Palace says that not a single centavo come from the Filipino, when When Pres. Gloria M. Arroyo travels on official trips abroad, the expenses fall on the shoulders of taxpayers. She and her entourage don’t have qualms in the amount to spend for they think they are giving the Filipinos a big favor. In foreign land, they think of themselves as public servants who represent the best interest of the country.
With the estimated P8 billion already spent by GMA in her trips, there are ways to hide unbridled abuse and extravagance. Having a patron like Rep. Martin Romualdez to pay for a $20,000 dinner in their pricey splurge in NY’s Le Cirque Restaurant is a good way to confuse and divert attention. Stupefied by the irrational display of pomp and self-indulgence, New York Post can’t resist commenting on the GMA’s controversial meal about the time she declared national mourning for Pres. Cory Aquino.
Now it’s the Washington’s Post turn to tell another story. According to Roxanne Roberts and Amy Argetsinger, writers of the influential newspaper in Capitol Hill, Pres. Arroyo and her delegation dined on "lobster, steak and fine wines" in Washington and spent $15,000 for the meal on July 30, 2009.
In the column “The Reliable Source” they said an "unidentified woman opened a handbag stuffed with cash" and paid for the tab plus the sizeable tips for Arroyo and its bloated entourage of 65 people at Bobby Van's Steakhouse on 15th Street.
Surely these spectacular dinners are just the tip of the ice-berg. Many agree they are scandalous and deplorable when a third of Filipinos are languishing in poverty. So what more is there to say of corruption and abuse in the Pearl of the Orient Seas? (Photo Credit: Oustgloria) =0=
RELATED BLOGS: New York City's dining lesson for GMA: Le Cirque versus Elvie’s Turo-Turo Posted by mesiamd at 8/11/2009; GMA’s NY dinner and the discordant ritzy lifestyle of Filipinos Posted by mesiamd at 8/10/2009
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Extravagant aircraft purchases face opposition
With increasing public frustration over the extravagance of the current administration, a group of US senators including the Pentagon have opposed the purchase of jets for US government use---a luxurious fleet for traveling officials underwritten taxpayers’ money. The big spending speaks of the entitlement Capitol Hill has been used to.
The appropriation proposal of $550 million by house lawmakers to buy eight Gulfstream and Boeing planes for official use is being opposed the House Appropriations Committee, Pentagaon, and by Sens. Claire McCaskill (D., Mo.). John McCain (R., Ariz.,) Jack Reed (D., R.I.), Richard Burr (R., N.C.), Christopher Bond (R., Mo.) and John Thune (R., S.D.). The amount being asked for the pricey aircrafts is double the amount of $220 million originally asked by the Obama administration to upgrade the aircrafts.
“The tension over the jets is erupting just as lawmakers embark on the high season for government travel. Traditionally, August is the busiest travel period of the year, since Congress usually recesses for a month. Since 1995, House lawmakers have disclosed a total of $6.2 million in travel expenses for all the months of August, according to a Wall Street Journal computer-assisted analysis of 60,000 travel records.” ----Wall Street Journal (08/10/09, Mullins, B; Farnam, TW )
This buying spree comes when US government spending, unemployment, healthcare debacle, and recession woes continue to plague the American people. A number of critics are saying, the leadership action at this time makes people madly disappointed and incredulous over where this country is heading. Some lawmakers however weakly defend this outrageous aircraft spending as “necessary”---- to those who travel in order to bring American goodwill throughout the world. (Photo Credit: www.artshole.co.uk) =0=
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US budget deficit jumps to 1.3 trillion
The biggest economy of the world is getting poor. For this year, in July, official records showed a sharp climb in America’s budget deficit that clouds trust in Pres. Barack Obama’s ambitious plan to re-structure the United States.
Anger and opposition are brewing as the Americans wake up to the reality that their country is drastically being changed to a direction that they can’t comprehend. The public is bracing for a more intrusive government which seeks to regulate the lives of its citizens.
In spite of Obama’s campaign promises that taxes will not go up, that the health care reform will be an improvement of the current system, and that the bail-outs of banks, financial institutions and the housing industry will save the economy, many Americans are convinced the United States can’t buy its way to prosperity. They are averse to excessive trillions of dollars of spending by the government.
“The deficit for the first 10 months of fiscal year 2009, which began October 1, reached 1.3 trillion dollars, close to 880 billion dollars greater than the deficit recorded through July 2008, said the US Congressional Budget Office (CBO).
Outlays rose by almost 530 billion dollars, or 21 percent, and revenues fell by more than 350 billion dollars, or 17 percent, compared with the amounts recorded during the same period last year, the non-partisan CBO said.” AFP (08/07/09)
The amounts above are too large to be understood by the ordinary Americans, but many are suspecting something ominiously wrong is going in the management of the country. It is unwise to incur big debts and massive spending at the expense of the taxpayers and ask the children of the next generation to pay for them.
The number of unemployed workers has declined for the first time in 15 months, but joblessness at still high at 9.4%; it is expected to breach 10% by yearend. There are pockets of improvement of the housing market, but housing prices are still falling and foreclosures are rampant.
In spite of the on-going financial crisis, government leaders of Capitol Hill and their supporters spend lavishly with little accountability. Barack Obama’s assurance that things are better under his watch and the recession is ending does not match with what the people are experiencing: Insecurity.
In spite of the rosy outlook the administration is saying, more money is needed to push the economy. There are talks of another stimulus package. There is pressure to borrow and collect more taxes from the people. Entitlements and welfare claims have risen---about 34 million Americans receive food stamps and many more are dependent on social security and unemployment subsidies.
A dangerous mix of a faltering economy, excessive government spending, a declining honesty in society, and a citizenry not used to a life of frugality has become a problem. In spite of America’s apparent strengths, there are obvious weaknesses that can undermine the nation’s future stability. (Photo Credit: Rich Seattle) =0=
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Legislation stalled: Americans question Obama's healthcare overhaul plan
The attempt of Pres. Barack Obama to hasten the approval of his universal health care plan met significant opposition when Senate majority leader Harry Reid (D-Nev.) announced the floor will take up the contentious matter after the August recess. At the earliest, the legislation will be voted, in September 2009 to allow time for legislators and citizens to think.
“Obama envisions legislation that would, for the first time, require all Americans to be insured. A new government insurance program would compete with private insurers, and insurance companies would be barred from excluding people with pre-existing conditions. The goals are to hold down costs and extend coverage to most of the 50 million uninsured. The price tag: $1 trillion-plus over a decade.”----AP (07/24/09, Werner, E.)
But a growing number of citizens and leaders from both sides of the political aisle are questioning the huge price tag of healthcare overhaul plan----exactly the reason why USA is pushing for a change. Many are resentful, appalled and worried that the reform will lead to rationing of medical services as 47 uninsured will be included. The danger of overtaxing the system is there---leaving doctors, nurses and caregivers overworked, underpaid, and unable to deliver the quality of care America expects.
Taxes which Obama promised to keep low, are likely to rise astronomically to subsidize at least 10 million illegal aliens who will crowd the system. The elderly and disabled may suffer denial or delays of service as the government wants to give the young and socially productive the priority in health services.
Through government machinations planned by a few supposed medical experts, many tests, procedures and treatments are in danger of being denied from the seriously sick, chronically ill, and those who suffer from rare diseases. This practice has begun even in the current system and is expected to be greater when the Obama plan takes effect.
Doctors often complain of being slowed by insurance disapprovals and delays to the detriment of their patients' health. Reimbursements of claim from medical services have been cut or denied on top of over-regulation. People have suddenly realize the creeping interference of government in their lives.
So therefore, it is easy to understand why enough time must be given for study and deliberation before a decision is made. There are reasons to doubt Obama and his contentious plan. As it is, his proposal for reform doesn't fly with the people he wants to serve (53% disapproved vs. 46 approved as one recent poll shows.)(Photo Credit: Reuters/ US Health Politics/ Reed, J; AP/ Burke, LV) =0=
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Pres. Gloria Arroyo’s foreign travels questioned
It’s not only how frequent Pres. Gloria M. Arroyo travels abroad that legislators question---but the sheer number of companions in those costly trips. These travels are suspected to be extensions of abuse and corruption.
According to Sen. Francis (Chiz) Escudero, the president went to at least 50 trips local and abroad lasting at least 130 days since 2001. In these travels, there are few benefits that trickle down to the Filipinos except the bloated claims of furthering “business relations, foreign investments, jobs for Filipinos, enhanced tourism, greater foreign economic assistance and other unspecified benefits.”
Imagine:
“In September 2004, the President turned a state visit to China into a family vacation with members of her family joining the delegation. The entourage also included 41 complementary staff from the Presidential Security Group and the Office of the Press Secretary as well as crews of state-owned broadcast stations, he said.
In December 2007, a contingent of close to 200 people that included more than 30 lawmakers joined President Arroyo in her trip to France, Spain and the United Kingdom.
In her latest overseas trip, the senator observed that Mrs. Arroyo is practically circumnavigating the world in just eight days in her latest overseas trip.
“President Arroyo’s on-going Manila-Tokyo-Los Angeles-Cartagena-Recife-Rio-Dubai-Hong Kong-Manila voyage is practically a circumnavigation of the globe. And she will be doing all of these in just eight days, Escudero said. ” Daily Tribune (O6/25/09, Rosales, A. M.)
Filipinos are known to pride themselves of their stints abroad---especially if they are paid for by taxpayer’s money and for reasons that are flimsy. Pres. Gloria M. Arroyo is no exception. She tags along friends and relatives no different than the ways of Imelda Marcos.
Many are wondering what hidden reasons the president of the Philippines has for leaving the country so often. It’s just right to investigate so the Filipinos will know.
Arroyo brings along many companions very characteristic of a politician who uses money of the government. She easily decides to make side-trips jacking up expenses that can better pay for budgets in underfunded public schools, hospitals, penitentiary, and orphanages back home.
For all the justifications the Arroyo administration gives, the stark reality is the government hardly can afford the waste and thus must cut down on these questionable trips. (Photo Credit: OustGloria) =0=
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California inches close to bankruptcy
Affected by the biggest recession gripping the country, the state of California has failed to come up with a budget, bringing the golden state near financial insolvency. The state is spending like crazy more than it can generate income. Government revenue is down by 27%. Business has been slow forcing companies to down-size or stop operation.
If no budget is agreed upon, the state is expected to run out of money by the end of July.
“It will run out of cash within weeks if it does not balance its books, leaving it little option but to postpone a variety of payments, according to State Controller John Chiang, who estimated last week that California was "less than 50 days away from a meltdown of state government."---Reuters (06/15/09, Christie, J; Gevirtz, L.)
California's income has dwindled with rising joblessness rate of 11% and unchecked housing crisis making it hard to close the budget gap of about $24 billion. One option is to cut spending --- the curtailment of entitlements and welfare programs including health insurance.
Budget cuts may be needed by putting teachers, firefighters and police officers out of work and stopping medical-care services. More taxes could be levelled on the residents to generate income. Unlike in the past, Californians are learning to live within their means just lilke Americans across the country. (Photo Credit: Jose Antonio Galloso) =0=
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WHO about to declare H1N1 flu as a worldwide pandemic
In spite of close monitoring and containment, the H1N1 virus has spread to sicken render about 20,000 individuals in 66 countries. The World Health Organization (WHO) is weighing in if it’s the right time that the viral infection be called a pandemic, the highest level of threat for a highly transmissible disease.
At present, the spread of the disease is mostly among travelers, in schools, and close contacts, but not much within the community. However, with the start of winter in the Southern Hemisphere, health authorities worry if the swine flu will infect more people than last year’s similar strain (H1N1 flu) which is resistant to the anti-viral medication Tamiflu.
The WHO is now "getting closer" to declaring the outbreak had reached phase six, the highest level on their alert scale.---said WHO’s flu chief Keiji Fukuda. Guardian.co.uk (06/03/09 Carrell, S.)
The same consideration has been reported in New York Times (06/03/09, A9, McNeil)
To declare the flu as a pandemic requires many considerations. People who don’t fully understand the disease may panic so the logistics to inform and prepare them must be put in place. In a pandemic, there may be trade and travel restrictions that my impact the economy of a country. A bigger budget and personnel to fight the illness must be readied.
The WHO is preparing an additional $500 million to aid poor countries. Pres. Barack Obama has asked the US legislature for $2 billion in anticipation of a full blown pandemic.
The virus which behaves like a mild seasonal flu at this time may mutate, grow in virulence and cause more deaths than generally expected as it moves along. With all these considerations, WHO calls on its experts---public health officials and academics to think what is best in the fight against the infection. They’re trying to figure if raising the level of disease threat to 6 is warranted and will be for the benefit of the people. (Photo Credit: Healthcare without Harm) =0=
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US Debt: runaway spending in Obama’s ambitious recovery plan worries Americans
“President Obama's ambitious plans to cut middle-class taxes, overhaul health care and expand access to college would require massive borrowing over the next decade, leaving the nation mired far deeper in debt than the White House previously estimated...
Tax collections, meanwhile, would lag well behind spending, producing huge annual budget deficits that would force the nation to borrow nearly $9.3 trillion over the next decade -- $2.3 trillion more than the president predicted when he unveiled his budget request just one month ago.” ----Washington Post (05/21/09, Montgomery, L)
To give the public a picture of what is to come, among high-profile company failures, on Monday, June 1, 2009, General Motors (GM,) the world’s largest automaker is poised to file bankruptcy (Chapter 11) in a US court in spite of the earlier bail-out extended by the government.
By placing the governmment stakes on the faltering giant car manufacturing company, the Obama administration is putting huge burden on the tax-payers. There are $20 billion dollars in federal assistance so far given by the Treasury in exchange for about 60% controlling stakes of the company. In addition to the $20 billion dollars, Obama plans to tell the Americans that an additional $30 billion is needed to see GM go through bankruptcy reorganization.
American taxpayers don't know if their money is being used wisely by their leaders. No one knows how the automaker can bring back the business to its old glory. Customers are uncertain, worried, and mad---something that corporate America haven't seen before. There will be more than 1,000 dealerships and plants that will be closed. About 20,000 workers in the car industry will be laid off as a result of the bankruptcy.
According to the U.S. National Debt Clock, the outstanding outstanding public debt as of June 1, 2009 is: $ 11,323,565,316,132.15. With the estimated population of the United States to be 306,284,942, each citizen's debt burden is pegged at about $36,970.69. How can Americans pay these?
The average US citizen may not fully realize that excessive borrowing and spending will likely mortgage the future of the children of the next generation. As cautious citizens have warned, the richest nation on earth may end up dirt poor earlier than predicted. The alarm is met with avoidance and silent dread by those who hear about it, especially those who think that Obama is the answer to their money problems..(Photo credit: Debtfree:Danilov) =0
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Fewer local jobs, rising numbers of OFW’s & fishermen plucked from stormy sea
35,000
As a consequence of the fall of the electronic industry, this is the number workers who lost their job in the major economic zone in Laguna according to reports that reached the Trade Union Congress of the Philippines (TUCP.) The huge lay-offs put the pressure on workers to leave the country and seek employment abroad. It is consistent with the National Statistics Office (NSO) data showing that Philippine exports fell 11.9 percent to $3.49 billion in November, the second straight month of double-digit loss following a downward slide by 14.8 percent in October.
It is said the country lost $1.18 billion in exports, mostly from electronics ($960 million) in October to November 2008.
In a related development, the closing of Intel's Philippine testing and assembly plant in Cavite this year will displace an additional 1,800 workers (cut down from 3,000 in November 2008) after 20 years of operation.
1,376,823
According to the Philippine Overseas Employment Administration, the number of overseas Filipino workers (OFW’s) employed abroad totaled to 1,376,823 last year. The number exceeded the 2007 number by about 300,000. Employment abroad has steadily increased from from 867,969 in 2003, 933,588 in 2004, 1,077,623 in 2007 and 1,376,823 in 2008. This indicates the continuing dependence of RP for jobs abroad to provide employment to its citizens.
21
The number of fishermen rescued in the stormy seas of Sabina Shoal in Kalayaan Group of Islands in January 16, 2009. All crew members of M/B Lester, they were safely brought to Puerto Princesa, Palawan after being marooned in turbulent waters for 10 hours.
P330 billion
With the goal of creating 3 million jobs and build infrastructures this year, Pres. Gloria M. Arroyo signed an additional 10% in the stimulus package bringing the budget to P330,000. The 3 million jobs represent a fourth of the 12 million presently unemployed in the country. It is doubtful if this amount is enough to offset the impact of the economic downturn. A 2009 national budget of P1.415 trillion was ratified by the congress.
34
This is number of evacuees from Gaza who arrived in Manila on January 21, 2009. Another 20 is about to arrive after they crossed the Gaza-Israel border on their way to Amman, Jordan. Earlier 16 Filipinos returned to escape the bloody strife between the Israelis and Palestinians which killed more than 1,000 people in three weeks. (Photo Credit: Ian Riley; Diong)=0=
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No tax collection, no progress?
If the Philippine government knows that taxes serve as lifeblood of its daily function, how come local and national government agencies and its owned & controlled corporations (GOCC’s) do not remit taxes they withheld from employees to the Bureau of Internal Revenue? What are they waiting for? Corruption plus inaction make the picture look worse.The Commission on Audit (COA) disclosed this gross failure which accounted for revenue loss of P18.6 billion last year. With this uncollected money, is it any wonder why advancement is very slow in the Philippines?
“The GOCCs account for the biggest chunk of the lost revenue—P13.26 billion—followed by the national government agencies (P2.87 billion) and the local government units (P2.51 billion).
The total amount is more than the entire 2009 budget of the Department of Environment and Natural Resources (P12.5 billion), the Department of Finance (P13.8 billion), or the Department of Foreign Affairs (P12 billion)
In 2006, among government agencies, the Department of Public Works and Highways accounts for the biggest amount of unremitted withholding taxes—P796 million—followed by the Department of Education (P303 billion) and Department of Agriculture (P201 million).---abs-cbnNEWS.com, Newsbreak (10/08/2008 Fonbuena,C)
Tasked to look for sources of govenment funds by the House of Representatives, the Congressional Planning and House Budget Office (CPBO) through its director of fiscal services Dina de Jesus Pasagui revealed that even the Philippine Congress and Senate owe the BIR P16 million in withholding taxes and COA owes P33 million. The CPBO chief Rodolfo Vicerra called for an improvement of taxpayers’ database of 29 million nationwide employees, of which only 5 million (less than 1/5) pay taxes.
It seemed the government focused on sensational cases of tax evasion among movie stars like Judy Santos and Regine Velasquez, but it didn’t look into the paralysis of tax collection in huge agencies where the big money would come from to finance the cost of running the country. =0=
2009 national budget, 100,000 jobs, & the Asian poverty line
P1.415 TrillionThe 2009 national budget, 15% higher than of 2008, has been approved by Pres. Gloria M. Arroyo and will be submitted to Congress. Manila Bulletin (08/26/08, Rosario,B)
24.5 Million
The number of Filipinos who fall below the “Asian poverty line” of $1.35/day spending, according to the Asian Development Bank (ADB.) An estimate of purchasing power and level of financial hardship, the Philippines’ percentage of people below the poverty line (29.5%) is better than India, Bangladesh,, and Cambodia, but worse than Pakistan, Indonesia, Vietnam and Sri Lanka . ABS CBN News.com/Newsbreak (08/27/08, Rimando,L)
1
The remaining flying C-130 Hercules plane the Philippine Air Force (PAF) has after the recent crash in Davao City; all pilots and crew remain missing and are presumed dead. Malaya (08/27/08, Chua, J.)
P1 Billion
To bring home medals in future Olympics and to augment competitiveness, a proposed increase in the budget of the Philippine Sports Commission, double the previous amount of P500-600 million, was aired by Monico Puentebella, RP chief of Olympic Mission. Though not strictly implemented, Philippine Amusement and Gaming Board Corp (PAGC0R,) is mandated by law to give 5% of its gross income to the sports development. GMA TV News (08/26/08)
29 Cases
This reported new HIV cases/ month of 2007-2008 is higher than the 20/month of the previous years. Since 1984, a total of 3,305 HIV cases have been reported in the Philippines and 310 people have died from AIDS. These figures are low-prevalence statistics which can change into high prevalence or to an epidemic if HIV cases continue to rise. AFP (08/26/08)
24
Number of maids, including Filipinos, who died in Lebanon as reported by Human Rights Watch, the New York based the group who said that Overseas Foreign Workers (OFW’s) from countries like the Philippines, Sri Lanka and Ethiopia were forced to suicide by jumping out of buildings because of isolation, difficult working conditions and maltreatment from their employers. AFP (08/26/08)
P406.8 Billion
The amount paid by the Philippines for its loan between January to July this year, 0.6% less than the amount paid for the period of 2007. Lower by 6.9% from P249.88 billion, the principal debt payments totaled P232.6 billion. Interest payments totaled P174.22 billion, up 9.2 percent from P159.49 billion. PDI (08/28/08, Remo, M.)
74,581 Families
The number of families with 362,475 persons displaced as of August 27, 2008 in the war between MILF rebels and Philippine Government forces in Mindanao, said the National Disaster Coordinating Council (NDCC.) To escape the fighting, 33, 438 families (156,059 people) fled to 152 evacuation sites. At least 55 have died in the ongoing hostilities. GMA TV News (08/27/08)
100,000 Jobs
Bureau of Immigration (BI) Marcelino Libanan claimed this number of jobs which can be generated with the granting of indefinite visas for foreigners who can provide at least 10 gainful employment opportunities for Filipinos in their businesses. Manila Bulletin (08/28/09, Ramirez, J.)Photo Credit: Simmons,A.=0=
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