Decision on FY 2000 Budget

At Issue: Disagreement over how to divide major reduction and scarce financial resources amidst deepening economic crisis.

Our View: The agreement reached between the two branches is the best alternative under the circumstance although it may be contrary to law.

With major decline in revenue generation–from the original proposal of $247 million down to $210 million for the new fiscal year which begins today–the decision by the two branches of government to grant the chief executive the flexibility to juggle funds is about the only best alternative there is to meet basic delivery of essential public services.

The slide in revenue to the tune of some $37 million and continuing to head on a downward spiral is basic reality that reflects today’s unhealthy economy. This drop in our financial resources has adversely affected such programs as scholarship, medical referral and others has basically paralyzed the ability of local government to meet its obligations that includes vendors, among others. It is one difficult situation that calls for the employment of real management skills.

The dire financial straits of the local government is destined to get worse as we slowly close the doors of the 20th Century. While the windows of opportunities abound, we must not forget that however dedicated our efforts may be, this undertaking definitely takes a process, a long process before we could begin seeing tangible results.

Therefore, it behooves city hall to buckle down by hiring seasoned economists and financial experts to map-out immediate wealth and jobs creation. It would give all sectors the opportunity to retreat and hammer out long term investment plans.

In this connection, the administration must take the lead in the reinvention of old approaches for we know now, and through current experience, that we must embrace new paradigms in the way we do things. Let us begin by repealing strangling and stifling policies that have at best, discouraged any form of major investment over the past 16 years while forging positive policies that would lure new industries to these isles. It’s high time that we also subscribe to proactivity of helping ourselves for history has shown that only those who work hard for their goals benefit from the fruits of their labor. All others repeat the failure of history taking nose dives into bankruptcy and subsequently, abject poverty.

The NMI can still revive the phenomenal economic success during the bubble years. But it requires reinvention of unworkable approaches. We trust that all bureaucrats and politicians would assist in the realignment of policies to do away with instability, the very issue that has contributed to the current economic downslide.
With renewed mind set, we shall overcome! Si Yuus Maase`!