atans1

Line between living beyond one’s means and being mean is very thin

In Financial competency, Financial planning, Political economy, Political governance, Public Administration on 30/08/2019 at 11:27 am

Argie president Mauricio Macri’s plan to delay payments on more than U$101bn of debt, is a de facto default.

Todd Martinez, director of sovereign ratings at Fitch debt agency, had earlier told the BBC’s Today programme that Argentina had three options to repay what it owes – most of which is in US dollars – and none of them “looks very viable”.

“It comes down to a simple equation,” he said. “Argentina can either (sic) dip into its savings, borrow new money or achieve a budget surplus.

True of a country, true of an individual. Over-borrowing and over-spending have consequences. Btw, a Hard Truth of the PAP is be prudent. Problem is this leads to the vice of being over-prudent and leads to meanness. Think PAP: Will PM, tonite, give peace of mind on CPF Life Standard?

But to be fair to the PAP: Reason why CPF Life so mean?

Vote wisely.

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