Senator accuses Aquino of ‘plagiarizing’ Arroyo’s budget
SOURCE: Christian V. Esguerra
MANILA, Philippines—Is there any difference really between President Aquino’s first national budget and that of his predecessor?
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SOURCE: Christian V. Esguerra
MANILA, Philippines—Is there any difference really between President Aquino’s first national budget and that of his predecessor?
Senator Joker Arroyo on Tuesday dismissed as “plagiarized” the P1.6-trillion budget signed by Mr. Aquino on Monday, noting a key similarity with the way he and then President Gloria Macapagal-Arroyo intended to borrow money.
“President Noynoy and GMA (the former President’s initials) are no different when it comes to borrowing money—they think alike,” the senator told the Inquirer in an interview.
“The 2011 Noynoy budget is a plagiarism of the GMA 2010 budget.”
The senator pointed out that like then President Arroyo, Mr. Aquino vetoed a provision in the General Appropriations Bill of 2011 that was supposed to limit the national debt to 55 percent of the total gross domestic product.
In case the government wished to borrow more money “that would increase its total indebtedness beyond 55 percent of the latest GDP, it may do so provided it obtains the prior consent of Congress,” the provision said.
The 14th Congress also included the same ceiling in the previous budget, but then President Arroyo vetoed the provision.
The same provision was among the 13 items in the proposed 2011 national budget, which Mr. Aquino vetoed when he signed the appropriations bill the other day.
Just ask Congress
“What is wrong with that? The provision does not tie the hands of the President. All he has to do is to ask Congress to increase the 55 percent of GDP to say, 60 percent,” Senator Arroyo said.
He said the practice of allowing Congress to set limits on the national debt was also common in the United States. The US Congress “generally raises the debt limit to avert a default on its credit obligations or a shutdown in general operations,” he added.
Senator Arroyo said the US debt ceiling was $5.95 trillion in 2000 and was raised to $14.292 trillion by this year. “The US Congress from time to time increased the statutory ceiling without difficulty,” he said.
Senator Arroyo said it was important for Malacañang to yield to Congress the power to set debt ceilings “in the name of transparency,” which was part of the President’s campaign slogan.
“The public must know how borrowed money, which ultimately will be paid by taxpayers, is spent by the executive (branch). Congressional action would open this to the public,” he said.
“President Noynoy and GMA (the former President’s initials) are no different when it comes to borrowing money—they think alike,” the senator told the Inquirer in an interview.
“The 2011 Noynoy budget is a plagiarism of the GMA 2010 budget.”
The senator pointed out that like then President Arroyo, Mr. Aquino vetoed a provision in the General Appropriations Bill of 2011 that was supposed to limit the national debt to 55 percent of the total gross domestic product.
In case the government wished to borrow more money “that would increase its total indebtedness beyond 55 percent of the latest GDP, it may do so provided it obtains the prior consent of Congress,” the provision said.
The 14th Congress also included the same ceiling in the previous budget, but then President Arroyo vetoed the provision.
The same provision was among the 13 items in the proposed 2011 national budget, which Mr. Aquino vetoed when he signed the appropriations bill the other day.
Just ask Congress
“What is wrong with that? The provision does not tie the hands of the President. All he has to do is to ask Congress to increase the 55 percent of GDP to say, 60 percent,” Senator Arroyo said.
He said the practice of allowing Congress to set limits on the national debt was also common in the United States. The US Congress “generally raises the debt limit to avert a default on its credit obligations or a shutdown in general operations,” he added.
Senator Arroyo said the US debt ceiling was $5.95 trillion in 2000 and was raised to $14.292 trillion by this year. “The US Congress from time to time increased the statutory ceiling without difficulty,” he said.
Senator Arroyo said it was important for Malacañang to yield to Congress the power to set debt ceilings “in the name of transparency,” which was part of the President’s campaign slogan.
“The public must know how borrowed money, which ultimately will be paid by taxpayers, is spent by the executive (branch). Congressional action would open this to the public,” he said.
