Cheaper, Better, Faster - MrBrown Show Production

blade1982 wrote:

Re: Are governments of today like irresponsible parents- selling their kids to the slavery of debt?
SG has been accumulating wealth from the budget surplus from previous years. We exercise prudent in spending, and save for our rainy days.
 I am surprise to know that SG's public debt is 100% our GDP. Looking at the breakdown, the external debt is merely 10%. Is our govt borrowing heavily locally?
My best guess is govt borrowing from our CPF. So where does the money goes, since we have been generating enough tax revenues to finance our yearly budget? Investment vehicles set up by govt?

Yes, I think most of public debt is in the form of the people's CPF monies which is then channeled to Temasek Holdings "we manage a portfolio of S$193 billion" and GIC [wiki] "We are one of the world’s leading sovereign wealth funds" [GIC site] for investment.

The Prime Minister (Chairman GIC) and his wife (CEO Temasek) decide how best to invest Singaporean's savings monies and 60.1% of Singaporeans think that that is a good idea.

The government of Singapore knows what's best for its people to Singaporeans just follow lor...

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Cheaper, Better, Faster - MrBrown Show Production
Uploaded by cityhousefly on May 4, 2010
It is a known fact that Singapore ministers are the highest paid politician in the world.
Sing to the tune of Beatles's "Ob-la-di, ob-la-da"

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26Nov2011: Are governments of today like irresponsible parents- selling their kids to the slavery of debt?