Tardy war compensation comes at the sunset of WWII Philippine heroes

The $787 billion spending package signed by US Pres. Barack Obama on February 17, 2009 has a special goody for the Filipino World War II veterans. After a long-drawn campaign to get compensation for fighting in the American-Japanese war, an estimated 15,000 war heroes will have a part of the $198 million earmarked by the US government.

“Only 15,000 surviving Filipino and Filipino-American WWII veterans whose names are in the Revised Reconstructed Guerrilla Roster (RRGR) of 1948 are qualified to receive the tax-free lump sum payment. The RRGR is kept in the state of Missouri although certified true copies are available in other official sites.”—Malaya (02/16/09, Ilustre, J)

The US Embassy in Manila is preparing to process applications next week that will give $15,000 for each elderly survivor (average age: 85 years) who is a US citizen and $9,000 for the non-US citizen. The cash reward doesn’t include the widows, children and dependents of veterans.

Of the 250,000 who fought with the US forces, about 6% (15,000) lived long enough be eligible for benefits. This opens the heart-breaking memories of the suffering Filipinos went through during the war and the injustice caused by the delay in the granting of compensation for the veterans.

Though the tardy award seems a victory of justice, one can sadly recall the thousands who valiantly fought, offered their lives, and died without seeing the liberation of the country. The horror of Bataan March must be an indelible reminder for all Filipinos. Let us pause and remember the heroism of those who died without seeing the fruits of the war effort. For them, we must pay respects and be eternally grateful. (Photo Credit: wtop) =0=

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The promise and uncertainty of the $787 billion stimulus package for the US economy

The economic stimulus package of the Obama administration has finally passed the scrutiny of the US senate. It only needs the signature of the president on Tuesday, February 17, 2008, to make it into law. Lacking bipartisan support, the Democrats in the senate and congress overwhelmingly voted for the $787 billion package touted to bring back the US economy on track. The Republicans and their conservative supporters disagree.

The astronomical dollar tag on US recovery doesn’t assure that it will succeed. Amidst a crisis of confidence, there are Americans who are alarmed. Critics of the legislation doubt whether the plan will deliver on its promises. Without much basis to back their trust, majority of Americans rest their hope on Pres. Barack Obama to fix the economy. Supporters are optimistic, in fact, overly optimistic.

“The legislation, among the costliest ever considered in Congress, provides billions of dollars to aid victims of the recession through unemployment benefits, food stamps, medical care, job retraining and more. Tens of billions are ticketed for the states to offset cuts they might otherwise have to make in aid to schools and local governments, and there is more than $48 billion for transportation projects such as road and bridge construction, mass transit and high-speed rail.”— Yahoo.News/AP (02/14/09, Espo, D)

There is a growing belief that no one buys its way from a recession. It is scary to pump in such huge money which puts taxpayers’ money on line. More borrowing and spending won’t easily bring back the trust on Wall Street which reneged on its fiduciary duty. There is doubt on those who warn of worse consequences if the public doesn’t rally behind the stimulus plan that nobody fully understands. Many don’t know why the American people are asked to spend for social services of illegal aliens, bail out banks, auto industry, and every ailing business in the country.

Obviously rushed to approve the bill, almost all congressmen (246 vs. 183) and senators (60 vs. 38) didn’t have time to read the legislation which is about a thousand pages long. It is expected the more the public comes to understand the details of the bill, the more people will disapprove. Many are dissatisfied with government officials (the spoiled and extravagant leaders,) from both the Republican and Democratic parties, who negligently brought the people into this economic mess. Those who are hurting wait for the day that the guilty must be held accountable.

There is a cautionary voice out there saying the economic downturn is unlikely to be reversed by this ambitious government rescue plan. Neither will prosperity come by giving away dole-outs to the poor, jacking-up government spending, giving perks to illegal aliens, distributing wealth, and raising the tax burden of workers and entrepreneurs. This seems to be affirmed by Pres. Obama who welcomes the bill’s passage but cautions the whole world that it’s just the start of an economic remedy whose success isn’t assured. There is a big chance that if this money splurge doesn’t work, additional funding will be asked for more massive spending.

Instead of the bloated stimulus spending with a budgeted cost of $787 billion to revitalize the US economy, conservatives have proposed a leaner spending. Unlike the democrats who dominate the Capitol Hill, Republicans assert that the recovery rests on tax cuts, smaller government, less interference with private money, and a return to traditional entrepreneurship and business ethics.

Though it’s early to tell what will be the outcome of the changes promised by Obama, there those who are silently angry and fearful. There are tell-tale signs that one can see with trepidation. Americans are used to live in gilded cocoons on productive fields that they can control. Now they are forced to face uncertainty. The big depression that they haven’t experienced with the rest of the world looms real in the horizon. (Photo Credit: Londa Elle; almostnomad; worsebrain)=0=

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The promise and uncertainty of the $787 billion stimulus package for the US economy

The economic stimulus package of the Obama administration has finally passed the scrutiny of the US senate. It only needs the signature of the president on Tuesday, February 17, 2008, to make it into law. Lacking bipartisan support, the Democrats in the senate and congress overwhelmingly voted for the $787 billion package touted to bring back the US economy on track. The Republicans and their conservative supporters disagree.

The astronomical dollar tag on US recovery doesn’t assure that it will succeed. Amidst a crisis of confidence, there are Americans who are alarmed. Critics of the legislation doubt whether the plan will deliver on its promises. Without much basis to back their trust, majority of Americans rest their hope on Pres. Barack Obama to fix the economy. Supporters are optimistic, in fact, overly optimistic.

“The legislation, among the costliest ever considered in Congress, provides billions of dollars to aid victims of the recession through unemployment benefits, food stamps, medical care, job retraining and more. Tens of billions are ticketed for the states to offset cuts they might otherwise have to make in aid to schools and local governments, and there is more than $48 billion for transportation projects such as road and bridge construction, mass transit and high-speed rail.”— Yahoo.News/AP (02/14/09, Espo, D)

There is a growing belief that no one buys its way from a recession. It is scary to pump in such huge money which puts taxpayers’ money on line. More borrowing and spending won’t easily bring back the trust on Wall Street which reneged on its fiduciary duty. There is doubt on those who warn of worse consequences if the public doesn’t rally behind the stimulus plan that nobody fully understands. Many don’t know why the American people are asked to spend for social services of illegal aliens, bail out banks, auto industry, and every ailing business in the country.

Obviously rushed to approve the bill, almost all congressmen (246 vs. 183) and senators (60 vs. 38) didn’t have time to read the legislation which is about a thousand pages long. It is expected the more the public comes to understand the details of the bill, the more people will disapprove. Many are dissatisfied with government officials (the spoiled and extravagant leaders,) from both the Republican and Democratic parties, who negligently brought the people into this economic mess. Those who are hurting wait for the day that the guilty must be held accountable.

There is a cautionary voice out there saying the economic downturn is unlikely to be reversed by this ambitious government rescue plan. Neither will prosperity come by giving away dole-outs to the poor, jacking-up government spending, giving perks to illegal aliens, distributing wealth, and raising the tax burden of workers and entrepreneurs. This seems to be affirmed by Pres. Obama who welcomes the bill’s passage but cautions the whole world that it’s just the start of an economic remedy whose success isn’t assured. There is a big chance that if this money splurge doesn’t work, additional funding will be asked for more massive spending.

Instead of the bloated stimulus spending with a budgeted cost of $787 billion to revitalize the US economy, conservatives have proposed a leaner spending. Unlike the democrats who dominate the Capitol Hill, Republicans assert that the recovery rests on tax cuts, smaller government, less interference with private money, and a return to traditional entrepreneurship and business ethics.

Though it’s early to tell what will be the outcome of the changes promised by Obama, there those who are silently angry and fearful. There are tell-tale signs that one can see with trepidation. Americans are used to live in gilded cocoons on productive fields that they can control. Now they are forced to face uncertainty. The big depression that they haven’t experienced with the rest of the world looms real in the horizon. (Photo Credit: Londa Elle; almostnomad; worsebrain)=0=

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In spite of a collapsing financial world, $18.4 billion were spent for greedy bonuses in Wall Street

If there is consolation to American taxpayers damaged by the economic meltdown, Pres. Barack Obama criticized billions of astounding spending. He decried as “shameful” and “irresponsible” the $18.4 billion bonuses distributed during the past year for workers in Wall Street. Yes! In spite of a 44% cut on yearend perks given to the money merchants, the amount clearly shows the extravagance and greed of the people who are partly to blame for the financial crisis. A staggering $18.4 billion was spent as giveaways in spite of the $700 billion bail-out they asked and handed over by the government because of a crumbling economy.

This news doesn’t help the effort to bring back trust in the system. The disclosure speaks of top officials still engaged in reckless spending, some using large amounts of money in the shadows to continue their vice.

Amidst joblessness, home sales slump, and poor stock performance, Obama is facing the challenge of making the public believe. Congress has just approved the $825 billion “stimulus package” which is basically another big spending to mitigate the damaging effects of the financial mess. More enraged Americans fear that unless transparency and ethical practice in business is restored, there is little reason to hope that confidence will come back and the economy will be fixed in due time. (Photo Credits: Epicharmus x 2)=0=