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It’s the old SSS pension issue all over again

When President Benigno Aquino III in January, 2016, vetoed the P2,000 pension hike of Social Security System (SSS) retirees because of its “dire financial consequences,” then presidential candidate Rodrigo Duterte joined in castigating his action which, it seemed, showed how callous the administration was, that it would refuse what Congress had already approved – an increase in the pensions of old retired workers some of whom were getting as little as P2,500 a month.

Among the many horrifying sights in our modern world is the sight of homelessness. Families and children living on the streets or under bridges; families squeezing into what passes for a house made of plywood and cartons near a canal or river, or even in the middle of a pile of garbage.

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AMONG the most noted accomplishments of the previous Aquino administration were the high ratings it received from the three international credit rating agencies – Fitch Ratings, Moody’s Investor Service, and S&P Global Ratings. The Philippines was lauded as among the leading economies in our part of the world, second only to China. Because of the ratings, the country paid lower interest on its foreign loans. It also attracted foreign investments, although very much below the level of our neighbors in Southeast Asia.

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If President Obama considers President Duterte’s language “colorful”, the former should listen to Bangko Sentral Governor Amando M. Tetangco, Jr.

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