All we need is to run a deficit for 5 years but the Govt has no good ideas to use our reserves to solve problems, just push all problems to it’s citizens by inflating everything with bad policies

Do not leave debts to the next generation – draw on the Reserves now ! Why are we keeping the reserves for gambling only ???

Minister Chan Chun Sing said that accountability means not leaving debts to the next generation. I think that a better term to describe it is – financial responsibility.

This implies that a person is not financially responsible when he or she have to leave debts to the next generation.

Debts could be caused by spending beyond one’s means. However, it can also be caused by events beyond one’s control.

Here are some examples:

a) The family incurs a large debt due to medical bills

b) The family loses a lot of money on bad investments that were sold by approved institutions. These include the credit linked notes that went bad during the global financial crisis in 2008, the structured products that are now being sold by the banks and the recent Hyflux preference shares and perpetual securities.

c) The family over-invested in expensive HDB flats bought on the resale market which eventually have no value on expiry of the lease.

In all these cases, the government could have played a more effective role in looking after the interest of ordinary people and ensure that they are not taken advantage by more sophisticated parties.

If the government fails in this duty and responsibility, it is not acting to the standard of accountability that is expected.

KL Tan

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Multiple OS, Security, Data & Internet , Interests include AI and Big Data, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader. I am capable of finding any answers in the world you want as long as there are reports available online for me to do my own research to bring you closest to all the unsolved mysteries in this world, because I can find all the paths to the Truth, and what the Future holds. All I need is to observe, test and probe to research on anything I want, what you need to do will take months to achieve, all I need is a few hours.​

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