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Pyrrhic victory

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Philippines Headlines News

There are only a little over 12 days of countdown to Christmas Day when one would hope to receive from one’s true love(s) more than a partridge in a pear tree. This prelude to the presidential

election year, however, brings another anxious countdown toward the official start of the campaign season, which would be Feb. 8 for candidates for president, vice president, senator, and party list groups; and March 25 for congressmen and regional, provincial, city, and municipal posts.

Already, Finance Secretary Carlos Dominguez III has warned that any next administration will have to address the problems of looming massive debt and the specter of high inflation. The accumulation of debt has been the result of a seemingly no-choice option of providing hefty fiscal resources to prop up a pandemic-struck economy rendered moribund by mandated inactivity resulting in low income, high unemployment, and a shrunken tax base.

 

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