2016 Presidential Election

[magicsarap]

Tumpak!


Madalas ipost sa FB, zero daw ang gastos ni Digong compared to hundred of milliions sa other candidates,
Pero paanong ang dami nyang advert sa TV at radio na halos kasing dami din nung iba, and who is paying for these and do you honestly think that this out of their bayanihan spirit, at walang payback?

Is this para sa tunay na pagbabago, or just change of collar or rigodon?

PH presidential candidates outspend billionaire Trump

Presidential candidates in the Philippines are spending on media advertising more than what American billionaire Donald Trump has spent for his dream to sit in the White House, according to an independent senatorial candidate.

Former Akbayan Rep. Walden Bello, who is running for senator on a shoestring budget, called on voters to declare war on what he called a “corruption of the political process.”

Bello cited data from the Federal Electoral Commission which showed that Trump, who is seeking the US presidency, had so far spent $2 million (P94.18 million at an exchange rate of P47.09 to $1, or P13.45 million a month) from January to July last year.

Trump’s rivals for the Republican nomination, Ben Carson and Ted Cruz, each spent $5 million (P235.45 million, or P33.64 million a month).

A Nielsen monitoring report on total ad spending for TV, radio and print from Jan. 1 to Nov. 30, 2015, showed three presidential candidates each spending more than half a billion pesos—Liberal Party (LP) standard-bearer Mar Roxas (P774.192 million, or P70.38 million a month), Vice President Jejomar Binay (P695.55 million, or P63.23 million a month) and Sen. Grace Poe (P694.603 million, or P63.14 million a month ).

“Binay, Poe, and Roxas each spent $9 million to $10 million each, presumably most of it in just the last two and a half months of 2015 and just on TV ads,” Bello said.



TV ads

For television ads in the 11-month period, Binay spent P595,713,000, according to Nielsen data.

Poe was in second place, with P448,166,000, followed by Roxas with P424,870,000. Davao City Mayor Rodrigo Duterte came in fourth with P115,423,000.

Among the vice presidential candidates, Sen. Alan Peter Cayetano was the biggest spender with P398,288,000, followed by Sen. Bongbong Marcos with P103,429,000.

Camarines Sur Rep. Leni Robredo came in third with P91,602,000, followed by Sen. Gregorio Honasan II with P43,580,000.

At the bottom of the list was Sen. Francis Escudero, having spent only P30,000.

Senatorial candidates

Among the senatorial aspirants, the top spender was Leyte Rep. Martin Romualdez with P310,763,000.

Other senatorial candidates and the amounts they spent for TV ads were: Valenzuela Rep. Sherwin Gatchalian, P166.9 million; former Metropolitan Manila Development Authority Chair Francis Tolentino, P144.1 million; Manila Vice Mayor Isko Moreno, P89.8 million; former Sen. Panfilo Lacson, P86.3 million; former Justice Secretary Leila de Lima, P54.5 million; former Energy Secretary Jericho Petilla, P52.2 million; former Technical Education and Skills Development Authority head Joel Villanueva, P40.5 million; Sen. Serge Osmeña, P21.9 million; former Akbayan Rep. Risa Hontiveros, P20.2 million; Bayan Muna Rep. Neri Colmenares, P4.3 million; and broadcaster Rey Langit, P405,000.

Buying elections

Bello said that at the rate these well-funded candidates for President, Vice President and senators were burning money, “they are literally buying the elections and the campaign season has barely begun.”

The official campaign season for candidates for President, Vice President, senator and party-list group representation starts on Feb. 9. The start of the campaign period for local candidates is on March 26.

Amazing for poor country

“The electoral spending in the Philippines is reaching US levels, with some of the candidates apparently outspending some of the US candidates for the presidential nomination,” said Bello in a text message to the Inquirer.

“This is amazing, for a poor country. This is profoundly undemocratic and is surely going to result in massive corruption later so that the candidates can regain their investments while in office.”

The independent senatorial candidate said those like him who were abiding by the rules were profoundly disadvantaged by these unfair players.

“This is all the more reason for putting very strict limits on campaign spending, like keeping the total for all forms of campaigning at very low levels,” Bello said.

Comelec

The Commission on Elections (Comelec) said it could not prevent political aspirants from engaging in premature campaigning through TV ads because there was no law prohibiting it.

In a press briefing, Comelec Chair Andres Bautista said the commission could only monitor spending during the campaign period.

“For the record, there is no law right now that regulates spending because we know that the meters start running only at the beginning of campaign period,” he said. “According to the law, campaign expenditures only kicks in at the start of campaign period.”

He lamented that even if the poll body was willing to monitor all spending related to campaigning, including early or premature campaigning, the Comelec simply did not have the mandate.

Hole in law

“The law has a gap. The law has a hole,” Bautista said, adding that the decision is up to the voting public if it would support political aspirants who spend so much on TV ads.

Republic Act No. 9369 or the Poll Automation Law provides that “any person who files his certificate of candidacy shall only be considered a candidate at the start of the campaign period” and that “unlawful acts applicable to a candidate shall be in effect only upon that start of the campaign period.

LP chief of political affairs and Caloocan Rep. Edgar Erice said that among the presidential candidates, Roxas had the biggest resources to justify his campaign spending.

“Mar and his family are the most capable if we will base it on his SALN (statement of assets, liabilities and net worth) and history of business engagements. Binay and Poe should be asked, ‘Where did they get their funds?’” said Erice.

Coalition spokesperson and Marikina Rep. Miro Quimbo said Roxas generated his funds from friends, supporters and family.

Overstated

In a statement, Cayetano claimed that reports on television advertising expenses of presidential and vice presidential candidates were erroneous.

“The amounts reported are overstated because Nielsen admitted that these are based on published rate cards, which in all cases are so much more than what was actually paid for,” Cayetano said.

He defended his ads, saying that the media were the most effective way to reach the public.

“Using media and advocacy advertising, we were able to communicate better to a broader audience amid the black propaganda mounted against us by those who were affected by my relentless antigraft and corruption campaign,” he said.

With a report from Nancy C. Carvajal

[magicsarap]

Who were the presidential candidates' top donors?
Posted at 15 Apr 2016 01:35 AM | Updated as of 21 Apr 2016 06:02 PM




MANILA, Philippines—Who helped fund the last electoral campaign of Vice President Jojo Binay, Senators Grace Poe and Miriam Defensor Santiago, Davao City Mayor Rodrigo Duterte, and former Interior Secretary Mar Roxas II?

According to records obtained from the Commission on Elections (Comelec), Binay, Poe, and Roxas spent millions of pesos in their last electoral campaign: Binay and Roxas in 2010, when they fought over the vice presidency; Santiago and Poe in the 2010 and 2013 senatorial elections, respectively; and Duterte in the 2013 mayoral race in Davao City.

Some of the donors of Binay, Poe, and Roxas, according to their own Statement of Election Contributions and Expenditures (SOCE), were executives from the country’s top companies, including San Miguel Corporation, Araneta Group, and Aboitiz Group.

SOCE is a detailed account of a candidate’s campaign sources of contributions as well as expenses, as required by Omnibus Election Code of 1985.

In contrast, Santiago and Duterte declared to have spent their own money.

Santiago’s money
Santiago listed a P500,000 donation from herself. She spent P117.52 million for her 2010 campaign and ranked third in the senatorial race.

Duterte’s allowance
Davao City Mayor Rodrigo Duterte, who ran unopposed in 2013 mayoral race, declared he got no donation. He spent P85,845 only and won the mayoralty for the seventh time.

Binay’s friends
Binay listed a total of P231.48 million in donations from 554 donors, including those linked to corruption scandals involving his family. He spent about P218 million for his vice presidential campaign while his rival, Roxas, spent P279.35 million. Binay won with 14.6 million votes, beating Roxas by 727,084 votes.

Darlene Webb Zshornack, president of Planet Drug Store, gave Binay P10 million, making her Binay’s biggest campaign donor. Planet Drug Store operates the pharmacy in Ospital ng Makati from 2009 up to present under Makati City’s public-private partnership program. In a 2012 report, the Asian Development Bank called the collaboration as “among the ‘best practices’ in the healthcare sector in the Philippines.”

Spouses James and Anne Tiu were second in the list, each contributing P7.5 million or a total of P15 million. James is a brother of Antonio Tiu, whom a Senate Blue Ribbon sub-committee hearing alleged as Binay’s dummy in the ownership of the 350-hectare Sunchamp Agri-Industry Park in Rosario, Batangas.

According to the records of the Securities and Exchange Commission in 2015, James served as one of Sunchamp Real Estate Development Corporation’s board members, owning P3.35 million worth of the company’s shares. He also served as the principal financial officer and director of Greenergy Holdings Incorporated, a company his brother owned, from 2010 to 2013.

Anne was Sunchamp’s corporate secretary in 2010.

In December 2014, James and Anne were slapped with a P39-million tax evasion suit by the Bureau of Internal Revenue. They were cited in contempt last year for not attending the Senate Blue Ribbon Sub Committee’s probe on Binay’s alleged ill-gotten wealth for several times.

Binay also received P5-million each from Victor Valdepeñas, president and chief operating officer of Aboitiz-owned Unionbank (he resigned in December 2015); Enrique Lagdameo, national treasurer of Boy Scouts of the Philippines; and a certain Victor Binay.

Roxases’ millions
Almost 74 percent or P180 million of Roxas’ P244-million campaign contributions came from the Aranetas, his maternal family. He received P50 million each from the following:
• Judy Roxas, his mother and Araneta Group’s vice chairman and senior executive vice president;
• Jorge Araneta, his uncle and Araneta Group’s chairman of the board, president and CEO; and
• Maria Araneta-Fores, his aunt and one of the Araneta Group’s directors.

Augusto Ojeda, Roxas’ late brother-in-law, donated P20 million. Another aunt, Ruby Roxas, and cousin Jorge A. Fores, Araneta Group’s vice president for collections, each gave P10 million.

The Araneta Group owns investment company Progressive Development Corporation, which manages Araneta Center; Philippines Pizza Inc., the franchise holder of international food chain Pizza Hut; and Uniprom Inc., the leisure and entertainment ventures of the Araneta Center such as the Smart Araneta Coliseum, TicketNet Online, Gateway and Ali Mall Cineplex. The group also owns several land properties in San Mateo and Rodriguez, Rizal, as well as in Bacolod and Talisay cities in Negros Oriental.

Roxas spent P279.35 million in his lost bid for the vice presidency, P61.4 million bigger than that of his rival, Binay.

Poe’s family
Poe ran in 2013, declared having received P129.15 million in donations and spent a total of P123.45 million, leaving her with P5.7 million in excess funds. And, to the surprise of many, she topped the senatorial race with a total of 20.34 million votes.

The largest portion of Poe’s contribution came from her mother, Jesusa Poe, popularly known as actress Susan Roces, P17.4 million; and her late father’s Fernando Poe Jr. Productions, Inc., P18.25 million which, according to SEC records, ceased operations since May 26, 2003.

Poe’s 2014 Statement of Assets, Liabilities and Net Worth showed that she inherited shares of the production company in 2008 worth P2.23 million.

Executives from large corporations also vouched for Poe. Each of the following individuals contributed P10 million for her campaign:

• John Paul L. Ang, General Manager and Chief Operating Officer of Eagle Cement Corporation, which operates a 252-hectare limestone mining sites in Doña Remedios and San Ildefonso, Bulacan;
• Thomas A. Tan, director of San Miguel Corporation, president and general manager of San Miguel Corporation Shipping and Litherage Corp., president of Saturn Cement Corp. and Sakamoto International Packaging Corp.;
• Michael D. Escaler, president of Aboitiz-owned San Fernando Electric & Light Power Corp. , which sources its energy from hydroelectric and geothermal power plants in Albay and Benguet; and
• Edwin L. Luy, president of Triton Securities, an investment company in which he owned 67 percent of the company’s shares.

Now, can someone just give away his millions without expecting anything in return?
Who were the presidential candidates' top donors? | ABS-CBN News

[cast_no_shadow]

Duterte no declared donors?

Mainstream na din ads niya ah.


Sent from my iPhone using Tapatalk

[magicsarap]

Daang Matuwid Political Trademark

Filipinos are sick and tired of "trapo" politics
By Atty. Josephus B. Jimenez (The Freeman) | Updated April 23, 2016 - 12:00am


The phenomenal surging of Mayor Digong's popularity is driven mainly by the peoples' disillusionment with traditional politics. This emerging pattern of a new political culture is not unique to the Philippines and the Filipinos. In the USA, the unexpected rise of such unorthodox politicians as Donald Trump of the Republican Party and Bernie Sanders of the Democratic Party is endemically illustrative of this new phenomenon in politics. People all over the world are making the same political statements: A new dawn is breaking in global and national politics.

The politics of influence-peddling is trapo, that which is being practiced in the towns and barangays, presssuring families and clans to vote for the incumbent mayors who put one of their sons or daughters in a clerk or janitorial position in the municipal government. The politics of water terrorism is trapo, that would threaten families to have their water connections cut off if they stop supporting the incumbents. But these are still being practiced until now. But, the way I see it, their effectiveness is waning out. Soon, the people are declaring freedom from all sorts of pressures, intimidation, and undue influence.

The politics of businessmen pouring billions of campaign funds into the coffers of traditional politicians is definitely trapo. But today, non-traditional candidates are being funded by small people, students, vendors, farmers, professionals, and many middle-class voters who contribute in small amounts but in huge numbers. This happened in the first presidential campaign of President Barrack Obama. This is happening now in the campaign of Mayor Digong Duterte. The power of the people is emerging as stronger than the money of the taipans, tycoons, moguls and magnates.

The 4Ps is trapo, giving money to the poor, instead of creating jobs to promote the dignity of the working class. This unabashed practice of dole-outs is perpetuating the culture of mendicancy, and makes able-bodied people dependent on the government. Because of the billions given away by this trapo program the government is compelled to impose too much taxes from the overtaxed, underserved, and unprotected middle class. And the 4Ps is being used by local politicians to use these government funds to finance their own politicking and influence-peddling.

Filipinos are sick and tired of this kind of politics, where mediocre but well-connected politicians are given undue advantage over more qualified, more competent and more honest new leaders. In the coming elections incumbent officials and those they are supporting should not be reelected.

New blood should be infused into our government. We cannot close our eyes to the monumental blunders, notorious negligence, and habitual abuses of the current administration. Filipinos of goodwill and good conscience should choose new leaders and all trapos should be consigned to the garbage bin of history. Choosing the real good ones is what matters most.

http://www.philstar.com:8080/freeman...trapo-politics

[CVT]

Hard to believe that Du30 has no donor/s.

RJ is campaigning for him in the guise of a radio commentary/editorial....

[macsd]

Hard to believe that Du30 has no donor/s.

RJ is campaigning for him in the guise of a radio commentary/editorial....

Madalas ipost sa FB, zero daw ang gastos ni Digong compared to hundred of milliions sa other candidates, Pero paanong ang dami nyang advert sa TV at radio na halos kasing dami din nung iba, and who is paying for these and do you honestly think that this out of their bayanihan spirit, at walang payback?

Are you amazed ? I am not cause i donated for DU30 and it's only now again that i donated for a president after Cory's 86 election. If there's any payback that i only ask for is to put in jail Negro family, Abnoy, Abad, Abaya, Honrado, Purisima and those involve and still pending issues of PDAF scam.

Ganito ang gusto kong makita after June 30 :

[Ry_Tower]

Filipinos are sick and tired of "trapo" politics
By Atty. Josephus B. Jimenez (The Freeman) | Updated April 23, 2016 - 12:00am


The phenomenal surging of Mayor Digong's popularity is driven mainly by the peoples' disillusionment with traditional politics. This emerging pattern of a new political culture is not unique to the Philippines and the Filipinos. In the USA, the unexpected rise of such unorthodox politicians as Donald Trump of the Republican Party and Bernie Sanders of the Democratic Party is endemically illustrative of this new phenomenon in politics. People all over the world are making the same political statements: A new dawn is breaking in global and national politics.

The politics of influence-peddling is trapo, that which is being practiced in the towns and barangays, presssuring families and clans to vote for the incumbent mayors who put one of their sons or daughters in a clerk or janitorial position in the municipal government. The politics of water terrorism is trapo, that would threaten families to have their water connections cut off if they stop supporting the incumbents. But these are still being practiced until now. But, the way I see it, their effectiveness is waning out. Soon, the people are declaring freedom from all sorts of pressures, intimidation, and undue influence.

The politics of businessmen pouring billions of campaign funds into the coffers of traditional politicians is definitely trapo. But today, non-traditional candidates are being funded by small people, students, vendors, farmers, professionals, and many middle-class voters who contribute in small amounts but in huge numbers. This happened in the first presidential campaign of President Barrack Obama. This is happening now in the campaign of Mayor Digong Duterte. The power of the people is emerging as stronger than the money of the taipans, tycoons, moguls and magnates.

The 4Ps is trapo, giving money to the poor, instead of creating jobs to promote the dignity of the working class. This unabashed practice of dole-outs is perpetuating the culture of mendicancy, and makes able-bodied people dependent on the government. Because of the billions given away by this trapo program the government is compelled to impose too much taxes from the overtaxed, underserved, and unprotected middle class. And the 4Ps is being used by local politicians to use these government funds to finance their own politicking and influence-peddling.

Filipinos are sick and tired of this kind of politics, where mediocre but well-connected politicians are given undue advantage over more qualified, more competent and more honest new leaders. In the coming elections incumbent officials and those they are supporting should not be reelected.

New blood should be infused into our government. We cannot close our eyes to the monumental blunders, notorious negligence, and habitual abuses of the current administration. Filipinos of goodwill and good conscience should choose new leaders and all trapos should be consigned to the garbage bin of history. Choosing the real good ones is what matters most.

http://www.philstar.com:8080/freeman...trapo-politics

Haha, delusional nga, trapo din si duterte eh. 20years in power, may political dynasty sa Davao, backer si quiboloy na may religious group, sounds familiara din diba. Nemen....

[NiCe2KnowU]

Lolz kay duterte 0 donor/s.. Malamang pagnanalo yan tsak 0 din crime rate ng pinas pano kasi na drawing na nya


Sent from my iPhone using Tapatalk

[StockEngine]

Ganito ang gusto kong makita after June 30 :

LOL

Its gonna be tough for Duterte even if he wins. Binay has allies in the supreme court all the way down to the smaller courts. Its an uphill battle for anybody going against corruption.

[shearts]

No mud slinging, just facts,

https://www.facebook.com/25380381137...1103321315400/

[Flipo]

Winnie Monsod take:

This is transformational leadership? | Inquirer Opinion

This is transformational leadership?
By: Solita Collas-Monsod
Philippine Daily Inquirer 12:32 AM April 23rd, 2016

ARE WE going crazy? Dudirty makes a really gross, tasteless, unfeeling, thoughtless comment about a foreign rape victim, and we, or the people listening to him, laugh—an equally gross, tasteless, unfeeling, thoughtless reaction. A statement of apology is attributed to him, and immediately we get comments like “he has apologized, so let’s move on”—therefore, it is not only the crowds listening to him, but others as well, who join him in this bizarre phenomenon.

What will we say about his unrepentant denial of that apology, followed by a dare to the countries whose diplomats expressed outrage or dismay, to see him about it when he is president? Is the “macho” reaction to be admired, so let us MOVE ON?

How many times are we ready to MOVE ON? Did we not MOVE ON after he cussed Pope Francis? He apologized to the Pope, but only after he attempted to justify his remark by disclosing that as young boy, he had been abused by a Jesuit priest, who obviously is dead by now and cannot defend himself.

Did we not MOVE ON after he announced that he would kill “criminals,” to clean up the country once and for all, and made another tasteless joke that killing them in front of a judge would no longer make it an extrajudicial killing?

And more importantly, did we not MOVE ON after his admission that he had supported death squads in Davao that had killed at least a thousand people, including children? Did we not MOVE ON after he admitted to being unfaithful to his wife who finally called it quits after 27 years of marriage? Did we not MOVE ON after he admitted to womanizing?

We did. And don’t anybody say that it is the “masa,” the taxi drivers and such, who have given him an imprimatur to say and do what he says and does. Excuse me. According to the surveys, only 30 percent of the D and E socioeconomic groups are for Dudirty, against the 40 percent of the ABC group who will apparently vote for him.

And apparently all these have bought into his promise to clean up the government and the streets in six months. This, against evidence to the contrary in his performance in Davao City: He may have cleaned it up (this is disputed by some), but it took him at least 20 years (since 1988) to do it. And you think he can clean up the whole country in six months?

* * *
And there’s Bongbong Marcos, another MOVE ON candidate. A big picture in the papers shows him with Lucio Tan and members of the Federation of Filipino-Chinese Chambers of Commerce and Industry. Tan got his start from Ferdinand Marcos (cigarette monopoly, a bank, to name a few), but decided to keep the Marcos share for himself when the dictator fell and there was a court battle between the Marcoses and himself. But it seems that not only is all forgiven (after all, the only ones who really lost were the Filipino people), but some Chinese are now also publicly remembering how good Marcos was to them, and feting Marcos Jr. It makes me sick, the thought of cronies coming into power again.

Worse, according to reports, retired generals and colonels of the Armed Forces did the same thing, and more, giving their “unequivocal support” to the young Marcos. Gen. Benjie Defensor (Miriam’s brother) shamelessly dropped generals’ names to prove his point. Do they anticipate a return to martial law or its equivalent? Are happy days here again for them?

Think of it, Reader. Dudirty with his penchant for killing, and Marcos Jr. with his unapologetic defense of his father’s deeds. What a team—martial law mentality and cronyism. As president and vice president. Is that what we really want? This is transformational leadership?

* * *
There’s more. We have the results of the Radio Veritas “Truth Survey” on Servant Leadership. We are told that the survey results are not being endorsed by the Catholic Church, that it is not a popularity survey, that it requires answers of “yes” or “no” to 10 characteristics of servant leadership, that the respondents were not priests and nuns but ordinary people, and that the survey was methodologically correct. And Grace Poe topped the survey.

Questions arise: 1. If the results were not being endorsed by the Catholic Church, why were two bishops (Broderick Pabillo and Teodoro Bacani) at the head of the press conference with the Radio Veritas president? Why make such a big deal of it? Might this be the Church’s way of endorsing a candidate, competing with the Iglesia ni Cristo?

2. Wouldn’t it have been more helpful to us ordinary souls if the respondents of the survey were bishops, priests and nuns? That would have a value-added component. Can you imagine a farmer, or laborer, grading a candidate on such items as “conceptualization,” “commitment to the growth of the Filipino people” and “healing” or “stewardship”? Were the respondents furnished with the necessary information on all candidates before they were questioned?

3. Are the 10 characteristics of equal weight? Because Poe, who “topped” the survey, had the lowest score on “awareness,” which was defined as “having sufficient knowledge and experience for the position, which reflects the programs he or she has implemented during his or her previous government post.” Good grief. Shouldn’t that count for more than listening, and conceptualization, or the rest of the other characteristics?

4. Finally, why call it a “Truth Survey”? Certainly, none of the characteristics had to do with the truthfulness of the candidates. I ask because Poe, the topnotcher of that survey, is facing many issues on that topic.

[Gian Paulo]

Common denominator of all Presidentiables and VPs is “CHINA bullying”. We need to ask them what will be their prerogative after UNCLOS decision and continued China bullying of our fishermen in WPS. and where in their priority list does this PROBLEMs belong. And how will he/she plans to tackle it. All are trying to avoid even downplayed this issue so are the big businessman and Media groups thinking that it is a simple problem..

[Monseratto]

Du30 and Jaloslos

[ClaNker]

Du30 and Jaloslos

Kumusta ang mga tsiks nato bay?

[anonemus]

Duterte no declared donors?

Mainstream na din ads niya ah.


Sent from my iPhone using Tapatalk

Sino inuulol nila? China for one is funding his campaign, through Digong's Chinoy buddies in Davao.

--

Sharing what I just posted on my FB page:

"To relatives and friends who are for Duterte, Poe or Santiago I respect and understand your choices.
All I ask is that you vote for Leni Robredo as VP.

For when Duterte resigns after being unable to rid of criminality in the Philippines by January 2017; when Poe is disqualified by the Electoral Tribunal for her citizenship and/or residency problem(s); or, when the Lord takes away Miriam to end her Stage 4 cancer, then we'll have a President everybody can unite around and be proud of.

To those who support Binay, let me quote Duterte: Go to hell "

[magicsarap]

LP's DAANG MATUWID System



Aquino to leave P6.4t debt

posted February 20, 2016 at 12:01 am
by: Rio N. Araja

ASIDE from a host of problems, President Benigno Aquino III will leave the next president P6.4 trillion in outstanding debt, P4.16 trillion of which was borrowed during his term, the Freedom from Debt Coalition said Friday.

At a news conference, FDC president Dr. Eduardo Tadem said Aquino has even eclipsed former President Gloria Arroyo as the biggest borrower among the country’s presidents from 1986 to the present.

“Divided among the projected 103 million population, each Filipino now owes a sum of P62,235.26, plus P4,251 in government-guaranteed debts,” Tadem said.

According to World Bank data, the Philippines had a debt of $66,383,249,000 in 2011 which steadily ballooned to $69,874,337,000 in 2012, $66,870,514,000 in 2013 and $77,658,912,000 in 2014.

Since 1986, Philippine presidents have merely continued such dependence on debt and non-prioritization of the welfare of the people because of blind adherence to the prescriptions of multilateral financial institutions, Tadem said.

Tadem said Aquino is the “biggest loan addict” and Filipinos should “rise up and stage an electoral insurgency against debt and its role in perpetuating poverty and inequality.”

Noted economist Walden Bello, who served as congressional representative of the Akbayan party-list and is now seeking a Senate seat, said it is criminal that debt payments should get the first cut in the national budget even before funds are appropriated for social and economic services.

“This vicious cycle of debt and ballooning social debt will continue as long as the government resorts to new borrowings to pay for old loans, including those tainted with fraud and corruption, and with existence of the law on automatic appropriations for debt servicing,” he raised.

For 30 years from 1986 to 2015, the continued implementation of the policy on automatic appropriations for debt servicing has resulted in an average of 27.21 percent of the annual public revenues automatically earmarked for interest payments.

Principal amortization, on the other hand, has eaten up an average of 67.61 percent of government’s new borrowings, he said.

Aquino to leave P6.4t debt - The Standard Mobile

[ClaNker]

The standard....

Sabihin mo dyan sa nag sulat Debt to GDP ratio kamo.

[Juan Martinez]

Kumusta ang mga tsiks nato bay?

jalosjos: dotrekakin gihapon bay!

[vinj]

LP's DAANG MATUWID System



Aquino to leave P6.4t debt

posted February 20, 2016 at 12:01 am
by: Rio N. Araja

Aquino to leave P6.4t debt - The Standard Mobile

The standard....

Sabihin mo dyan sa nag sulat Debt to GDP ratio kamo.

I was just waiting for that piece if disinformation to be posted too. It's Debt to GDP indeed that matters.

It like saying that an Aling Nena's Store with a PHP 100K debt is in a better position then an SM with several billions PHP debt because it has less utang.

Let alone the fact that the Philippines currently has a very good level of USD reserves in spite of the Marcos-era loans we continue to pay.

[H1Tman]

The world recognizes the economic improvement of the Aquino administration. Two generations of growth is needed for the country to really feel it. Think before you vote.