Gov’t to go bankrupt,
Filipinos to go hungrier
By Jarius Bondoc
Politicos and bureaucrats misspend trillions of pesos each year.
At the rate they’re going, they’ll bankrupt the government.
In 2024 they budgeted P5.768 trillion. Short of revenues by 42.65 percent, they borrowed P2.46 trillion.
This 2025 they budgeted P6.326 trillion. Again short by 40.23 percent, they’ll borrow P2.545 trillion.
Imagine a family spending P6,326 every week, but having to loan two-fifths of it, or P2,545. It would soon keel over.
By yearend total public debt, including past admins, will be P17.353 trillion. It will overshoot P20 trillion by the time President Bongbong Marcos steps down in 2028.
How will poor, hungry, undereducated Filipinos repay...