Tag: State Budget and Taxes

National budget not a Batanes budget

President Aquino’s narrative (a mythical one, as I discussed in my article in Rogue magazine’s June issue) is that his administration is the sequel to his mother’s 1986 people-power government, out to slay the Corruption Dragon.

A corollary to that narrative is that his predecessor President Arroyo left the economy in tatters – a total disregard of the facts, among them: the average economic growth rate from 2001 to 2010 of 4.7 percent was the highest among the past four administrations, and the average inflation of 5.2 percent, the lowest.

Thus, Mr. Aquino’s ideologue, Budget Secretary Florencio Abad quickly reacted to Arroyo’s criticism of the incumbent’s “nobody-home” administration not by showing that there’s really a mind in Malacañang. He goes on the juvenile kill-the-messenger tack by alleging that Arroyo mismanaged the country’s coffers. “Prudent expenditure took a back seat to political survival and political patronage,” Abad said in his statement posted on the Department of Budget and Management’s website. “The country was left with the largest budget deficit to date of P325-billion or 3.9 percent of gross domestic product,” he alleged.

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