Monday, October 08, 2007

curse for the illegitimate philippine debt

In plain language, a curse is something that brings evil, torment or harm on a place, a person or a people. And the big fast total illegitimate debt of the Philippines is exactly that: it buries the Filipinos deep in the quagmire of dishonor and shame, and keeps the country afloat in the ignominy of corruption and deceit. It is not enough that the citizens have long been making the payments. In effect even the unborn is already in great debt.

It is an elementary postulate of reason and ethics that the long national standing debt incurred by the Philippine government but did not benefit the Filipinos much less developed their Country are evidently illegitimate. As such, the odious and onerous debt often dubiously obtained even should not be honored by the country, much less paid by the poor and hungry people of the Philippines. No education is needed to arrive at this objective truth.

More than any past administration, the incumbent national leadership proves to be a consummate expert in borrowing money and thereafter making even the poorest of the poor pay through exorbitant indirect taxes. This is not only atrocious but also abominable. This is the kindest way of looking at and qualifying such an extra huge and illegitimate Philippine debt that is even continuously increasing on account of practically everlasting interest payments due.

According to a key principle in the sound and solid Social Doctrine of the Church, the inherent right to development of a people should be taken into account when responding to the issue of debt crisis in many impoverished countries. On top of the consideration are the marked impropriety of the loans made, the index of corruption in their in their government, and the signal impropriety in the use of the borrowed money.

Needless to say, the present government holds a shameful place of distinct dishonor on all counts: so many debts incurred were anything but proper, much less necessary. Corruption in public office has become a matter of course. Scams left and right, shady dealings here and there, appearing and disappearing acts are but regular accompaniments of the day to day Philippine agenda.

While the basic ethical norm stands that debts must be paid back, it is no less a fundamental tenet that no one should pay loans he or she has nothing to do with, much less really benefited therefrom. For all intents and purposes, the present administration in particular seems to have adopted the stand that what it spends unreasonably, the people must pay strictly; what debts it incurs nonchalantly in and out of the Country, the citizens should pay faithfully. What a sham! What a shame!

8 October 2007