Pay our debt

This is not something that i can be proud of but yes PastorP, below is the news that says it getting bigger everyday. Funny thing is even babies are in debt now. We owe most of these debts to our corrupt politicians. Note that the exchange rate is US 1.00 = PHP 46.00. Each Filipino owes P47,039 to local and foreign creditors. MANILA, Philippines - The National Government's total debt stock inched up to P4.338 trillion as of September as the government raised more funds to plug a widening budget deficit. The deficit, which is expected to exceed the P250 billion target this year, had led the government to tap debt markets here and abroad. In September, the government issued P114 billion worth of retail treasury bonds (RTB), which local investors availed for a minimum of P5,000. The RTB increased the national government's debt stock, which stood at P4.233 trillion at end-August, by P105 billion. The Philippine government, one of the most active global debt issuers among emerging markets, has been increasingly tapping the the local debt market instead of the global debt market to reduce vulnerability to foreign exchange fluctuations and other external pressures. Of the total outstanding debt in September, the government owes P2.424 trillion or 56% to domestic creditors, and P1.914 trillion or 44% to foreign creditors. At P4.338 trillion total debt in September, each of the 92.23 million Filipinos is theoretically indebted by roughly P47,039. With the National Government's total debt projected to climb to P4.489 trillion at end-2009, each Filipino's indebtedness is expected to increase to P48,671. In 2010, the projected total national government debt of P4.698 trillion translates to an estimated individual debt of P50,937.

Well, you are more well versed about your Nation's deficit than I am about my Nation. I just know we are horribly in debt. I consider all of this as the groundwork for Revelation 13.

I did some readings and revelations 13 is scary. Lets just hope that we are no longer alive when that time comes. Cheers!

Yes agree that it's easier said than done. But being debt free makes a lot of difference. It may not eliminate poverty but more funds would be available for social services. granting that the money will not get corrupted the money we are paying for our debt will certainly create more infrastructure and projects hence more jobs.

This topic was really made out of desperation. Through the years we fail to cut our budget deficit and our debt just keep on getting bigger. Which means that our government's effort is not enough to get us out of that debt. If it can't, i think the the people is only the one that's going to help it. No one will do it for us. Our debtors will just keep taking our money but the debt will still be there. Not unless every country we are indebted to agree to just forget about the debt in exchange for something like what joe de venicia is doing. But that "something is return" may be more than enough and will put us in debt not just in monetary terms, it's just like selling our souls to the devil in exchange of something.

Well if I am the rice one I would not be willing to pay government debts if I see that the money borrowed was not given to the project it is intended. I think I wold be willing if I can see that the one controlling the government is really working hard and at least have minimize being corrupt and disorderly.

Your right elisse. What our need is a good politician but aside from that the people need to participate more. A lot of Filipinos today have become apathetic because they either lost hope or just too concerned with their own problems. Our debt has ballooned so much that even those who are yet to be born are already in debt. This problem can not be solved by a handful of politicians, a lot of them are corrupt anyway. It's important that every Filipino must be involved in politics more. Not necessarily to become politicians but be aware of what's going on in politics. We need to closely watch what our politicians are doing because if we don't they're going to steal our money. Cheers!