Living Within Your Means

Living within your means (May 3, 2012)

There is an old economic adage that “you cannot spend more than you earn”, this really doesn’t require any further elucidation because common sense dictates that to continue on this path of spending more that you earn leads to economic ruin and penury.

Now if this is true for a normal household, why can’t this be true for the entire country?  Of course with the current administration of Noynoy Aquino such is no longer the case, in fact, the country is even aiming at being a creditor country instead of just being a borrower country.

Comparatively, during the presidency of GMA, the reverse was true – we were borrowing left and right putting the country in economic difficulty just to sustain the her corrupt administration.  Fortunately, the administration of PNOY is bent on reversing the trend.  And from all indications, the student did pick-up something from the teacher “you cannot spend more than you earn”.

Nation building is such a simple matter when you stick to this basic rule.