PS05 INTRO TO

POL. THEORY

"Our debts" by: Prof. Kristopher

Navales

The articles have unraveled the reality of what caused

the arguably, the biggest fiscal crisis of the country. It
traversed through the salient events since during the
time of Marcos' administration and how it bodes well
that the country could not get worse because of what
the regime of Ferdinand E. Marcos brought to the
country.

It bodes well in me that so many have happened from

the past that was, if not entirely, properly taught to
the passing generations. History has been written in
the best way it could, to describe how the Philippines
was lashed out by the governance of Ferdinand
Marcos and how his cronies paved the way to the
biggest downfall the country could ever face that even
generations of taxpayers not yet born during Marcos’s
time are still paying for all the bad loans Marcos'
regime took out and wasted.

The reality of how worse the decision making of the

policymakers during the Marcos regime, the spending
behavior, and the mismanagement of government
financing, validated the actuality of how the present-
day administration and even the administration that
passed after Marcos' regime, is molded. Because, of
the attributed fiscal deficits, which took the country
down to both its knees, longing for a tiny bit of chance
that it someday could stood-up from its dept-pit.

Finally, as how the country is once again near to

testing its democracy by having to transition to a new
regime of government. It is with precedence that the
citizenry is in need of a leader that is capable and is
with utmost capacity to uphold the rights of its people
to a better livability of the single most-basic unit of
the Philippine society, which is the Family. Thus, the
upcoming election is not just an election of new
governing authority of the present generation, but
also will rearrange the livability of the future
generations of Filipino citizens.

Prepared by: Benette Emmanuel D. Estrada