Editorial
WE may not probably see it, but the Philippines, according to most financial and economic publications and analysts, remains resilient.
In fact, Nikhilesh Battacharyya, Moody’s Economy.com analyst said in February that, "The Philippines, branded the sick man of Asia because of its relatively slow growth in recent years, will out perform many of its neighbors."
WITHOUT "fanfare," as the Offi ce of the President stated in its press release, Philippine President Gloria Macapagal-Arroyo signed the country’s national budget for 2009 last Thursday, March 12, to the amount of P1.414 trillion. Included in the budget is the P10-billion Economic Stimulus Fund (ESF).
The signing of the bill is said to "pave the way for public spending that will blunt the effects of the global economic downturn on the country," according to Budget Secretary Rolanda Andaya, Jr.
CALIFORNIA is experiencing 1,300 foreclosures every single day," said Paul Leonard, director of the California offi ce of the Center for Responsible Lending, last year. Leonard explained that this is the result of loose lending practices.
Last year, California Assemblyman Ted Lieu introduced his proposal on a bill that was designed to force Wall Street to help the citizens of "California Street." It was actually a moratorium and would require "regular reports" from lenders on loan modifi cations and foreclosure reductions. The proposal has been blocked late September of last year, leaving consumer groups and homeowners dissatisfied.
IT’S a bittersweet victory for our Filipino veterans to finally be acknowledged by the United States government for their bravery during World War II.
The $198-million lump sum payment—contained in the US economic stimulus bill signed by President Barack Obama last February 18—now awaits the estimated 18,000 surviving Filipino veterans.
After months of political gridlock, California state lawmakers agreed on a series of budget measures lastThursday, February 19. The following day, February 20, Governor Arnold Schwarzenegger fi nally signed. The budget agreement came after a record-long fl oor session of nearly 46 hours.
But is this the end of pain or again, just a start of the more cuts that will affect almost everyone in California? The $143 billion budget closes a nearly $42 billion defi cit through 2010 with tax increases, deep cuts in services and extensive borrowing.
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