The Deepening Crisis: The Real Score on Deficits and the Public Debt
Emmanuel de Dios
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Emmanuel de Dios: School of Economics, University of the Philippines Diliman
Authors registered in the RePEc Author Service: Emmanuel S. de Dios (esdedios@up.edu.ph)
No 200409, UP School of Economics Discussion Papers from University of the Philippines School of Economics
Abstract:
In her state of the nation address before Congress last July, President Arroyo drew attention to the government’s worsening fiscal and debt problems, calling the deficit “our most urgent problem”. That was an accurate statement. The looming threat represented by an uncontrolled public debt is indeed the biggest economic challenge the country will have to confront immediately and for the remainder of this decade. Recent events and discussions give ample reason to doubt whether the President’s message has been truly understood and internalized by the political elite and public alike – and hence whether the issue will be given its due importance. The quality of public debate on the issue stirs grave doubts whether the scale and consequences of “our most urgent problem” are indeed being fully appreciated.
Pages: 26 pages
Date: 2004-08
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Citations: View citations in EconPapers (8)
Published as UPSE Discussion Paper No. 2004-09, August 2004
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Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:200409
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