Budget unbalanced, injustice in tax policy

Rightly or wrongly, some quarters cite management of government finances as one bright spot in the current administration’s economic scorecard. As if to reflect its top priority, balancing the budget was the top item in President Gloria Macapagal-Arroyo’s 10-point agenda that she proclaimed early in her administration: It was the “B” in the agenda’s “BEAT THE ODDs” mnemonic. A balanced budget, however, proved to be a moving target. Originally set for 2008, its attainment had to be moved to 2010—and even that, under current circumstances, is a pie in the sky.