| The Shape of Things to Come |
|
| It is the start of
another year, and as expected, we are bombarded with numerous predictions
of things to come. |
| Astrologers say
2005, generally, will be a year of economic hardship for the people. In
the Chinese calendar, this is the year of the wooden rooster. It may very
well be an indication of what is in store for us. That the life of the
Pinoys will be like that of wild chicken, barely surviving, which we
commonly describe as "isang kahig, isang tuka." |
| It is not only seers
and fortunetellers who paint a bleak picture of the coming year. Economic
professors, analysts from international organizations, business leaders
and opinion writers warn of economic difficulty, or crisis even, if
present trend and conditions persist. The latest bad news we got was the
credit downgrading we got and the ADB report which ranked the Philippines
is the second most corrupt country, next only to
Bangladesh. |
| One of the biggest
headaches we face is the huge budget deficit and ballooning national debt.
This means are again forced to borrow; which means we will incur more
expenses on interest payment ultimately depriving other activities for
funding. And the vicious cycle goes on. Deficit is so big that government
has hardly anything left for developmental activities |
| The problem of
budget deficit is a concrete reality for the common Isko/Iska. Despite
protests, UP continues to experience reduction of its budget from the
national government. We are told that budget can hardly cover the
operational requirements of the university. |
| Certain portion of
the deficiency is now being covered by fee increases which we have to
endure. For example, just last semester, the photo lab fee in CMC was
P400; this semester, it was raised to P 500. I won't be surprised if it is
again increased next school year. |
| It doesn't take a
zodiac chart nor a business degree to see that the swelling budget deficit
is a concern that should be addressed immediately and resolutely. We
acknowledge that it cannot be solved overnight, that it may take years and
may require sacrifices for it to be corrected. |
|
| Having said that,
one can say that it looks like 2005 will indeed be a bleak year for all of
us. . |