08 November 2004


Sick Patient with Delusional Doctor
From the Philippine Star

Seldom does it happen that 3 major dailies carry the same subject matter in their editorial pages:
It all started with this announcement from President GMA:

"After I said we are in the middle of a fiscal crisis, I think, (we should) give room for optimism. And therefore, what I can say is that we are now getting out of that crisis," she said.

"The passage of tax on alcohol and beverage in the House will be followed by an even stronger measure in the Senate. The House has agreed they will consider (it) very favorably in the bicameral conference. That's a very important matter that we're addressing," she explained.

"I think this Christmas should be a happy Christmas because, as I said having sounded the alarm last September, I see some institutional and individual responses," she added.

[Manila Bulletin]

Nobody believes her.

How can we get out of a financial crisis in 3 months? The "sin tax" measure has solved our problems? That "sin tax" measure is not even within the shadow of its original proposal. See my previous post on this.

She thinks this Christmas will be a "happy Christmas."

With unstoppable fuel price increases weekly, high inflation rate, and export products slowing down, even the World Bank is worried about the Philippines' fiscal performance.

Mrs. President, positive thinking is good, but being delusional can bring us more troubles.

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