NMI’s revenue decline critical

The recommendation by the chairman of the House Ways and Means Committee that the administration begins implementing work hour reduction is no longer a political optioin, but a critically serious warning given the persistent decline in revenue generation as a direct result of more businesses downsizing or closing their doors permanently.

Over the last two years, the private sector has seen the closure of large and small businesses by more than 2,000 and this negative economic downward spiral continues to this day. It means less revenue for the local government’s purse no matter how it is dissected or funds juggled to avoid resolving a dire economic or financial straits.

Seriously, economic planners or pundits in the public sector need to get their acts together on specific measures to help businesses muddle through this most difficult period over total closure. The most worrisome aspect as this phenomenon ravages private sector survival is that mind-numbing sense of complacency to just let them “sink or swim!”

This is the time to roll-up our sleeves, institute emergency measures to help businesses stave or avoid total bankruptcy. It is no laughing matter watching the private sector take a roller-coaster slide into oblivion. It eventually translates to less revenue to defray cost of essential public services and joblessness. It is for this reason that public sector economic pundits must lift their lazy index finger to seriously study immediate alternatives before a disastrous economic meltdown becomes the order of business here.

If granting tax break payments is the answer, then such measure must be taken forthwith, to ensure revival and survival of small and large businesses. One can’t possibly lord over struggling businesses to continue coughing out more taxes when they can’t even break even or have only been able to rake-in reluctant marginal profits. That would be an enslavement of the private sector while courting potential economic meltdown.

We no longer can bluff nor brave acutely deepening economic contraction with superficial tolerance or complacency. Furthermore, that the private sector has instituted reduction of work hours or reduction in force because it is no longer profitable to brave the worsening crisis is more the reason that the public sector must read such economic indicator with greater sight and agility.

As difficult a bitter pill to swallow, persistent economic slide mandates public sector economic planners or pundits to face the music squarely and employ real management skills to stave off any further decline of an already critically sick financial posture of these isles. Let’s do it now while there’s room to maneuver in the rough seas of substantially declining revenue generation. Si Yuus Maase`!