Philippine Congress must call for a stimulus package for the crisis, not charter change

I was there in Ayala Avenue and Paseo de Roxas last Friday where the heart of Manila’s business district was converted into a freedom park for anti charter change protesters. I was not there to join the rally nor oppose it, it just so happens that my wife works there and we go home together. Later that day, I learned from the news that a number of senators were there in the rally and most came from the liberal side of the upper chamber of Congress. Conservative senators have also voiced their opposition to the measure being vigorously pursued by the House.

My take on the charter change is it should be limited in the economic components of the constitution making them more up-to-date in the free market environment. The consensus among most senators is that it should be done after the 2010 elections to avoid any suspicion that it will be used to extend term limits of public officials. The House must realize that this is important and should not immediately shrug off these suspicions, regardless if it has any basis or not, because government is all about public trust.

Democracy is about the rule of the people and this rule is designated to those officials elected to office. Even if it the intention is to amend the basic law that will pave way for economic development, which the representatives from the House are claiming to be their only aim for the pursuing the measure, the notion of public trust must supersede above anything else. Anyway, there would not be much room for any alterations in the economic side of the constitution to trickle into the economy because we are currently in the downward phase of the economic cycle. The best thing the House can do is to call for a stimulus package similar to what other countries are now doing in response to the global economic meltdown.

Senator Edgardo Angara’s editorial column that appeared in the Manila Bulletin last Sunday titled “Fiscal stimulus in response to the crisis” outlined a government-initiated spending that focused on infrastructure, education and health, housing, and the environment. These would funnel national government funds to where it is best needed and at the same time create jobs that would partly cancel those that have been lost due to the crisis.

Congress must now completely abandon the charter change bandwagon and lead the country into a new direction where the realities of a new economy are fast building up. It is their job to create an oversight to make sure that as the national government spends its way out of this crisis, it should make sure taxpayers’ money is wisely spent to where it is intended and the future generations of Filipinos are protected from effects of burgeoning debt.

Nathan Andrada
nathanandrada.wordpress.com

‘Blagojevich scandal’ puts President-elect Obama on the defensive

Before he could be even sworn in, President-elect Barack Obama is already being tested particularly in his vision for change now that he is being dragged to the scandal involving Illinois Governor Rod Blagojevich. For the benefit of Filipinos, since this story has not hit mainstream media, the scandal revolves around the corruption charges filed against the Illinois governor and his chief of staff for setting a ‘bid’ on the Senate seat vacated by Obama. By state law, the governor of Illinois is tasked to name the replacement of the Senate seat that is vacant.

Blagojevich was caught through the wiretapping efforts of federal authorities. The president-elect has already called for the resignation of the governor, who has staunchly supported the former in his bid for the White House. Obama has also denied allegations that his team has any knowledge about Blagojevich’s wrongdoings with regards to the Senate seat selection process.

However, this has not stopped conservatives from questioning the Obama camp especially when there are allegations that Obama’s personal choice for the post was pulled out of contention and was offered a White House designation immediately after the scandal broke out. Some say it suggests that the Obama camp was in fact in contact with the governor and knew of the ’selling’ and failed to report it.

This has certainly placed the president-elect in an awkward position barely six weeks before being inaugurated as the 44th president of the United States. Some are now questioning his ability to initiate change with his involvement with allegedly corrupt officials in his own turf.

Nathan Andrada
nathanandrada.wordpress.com

Executives of Philippine government-controlled corporations should consider slashing their bonuses in ‘09

Executives from struggling financial firms Wachovia, Merrill Lynch, and Morgan Stanley have already committed to defer their bonuses this year. It is a gesture by Wall Street to cut their costs in light of the global financial and economic crisis. Now that the US is in recession, thanks mostly to many of their financial companies, it sure does make sense for their top executives not to receive any bonus. 

Here in the Philippines, the government not only owns but has significant stake in various corporations. The perks and bonuses of many of the executives, at the helm of these corporations, are enormous to say the least. Now that the country’s economy is expected to slow down next year to 3.5-4.5 percent, the government should consider cutting if not defer the bonuses of the executives of the GOCCs (Government-owned and controlled corporations).

Now that the Php1.4 trillion budget for next year is almost a certainty, unless the conservatives in the Senate can salvage a last-minute effort to bring it down, Congress must act to make sure bulk of that spending will be allocated to provide relief for the poor and projects that create jobs. The Senate must make sure that while the economy is threading a dangerous path next year, the executives of GOCCs won’t be spending taxpayer’s money on new luxury cars and overseas trips.

Nathan Andrada
nathanandrada.wordpress.com