National Debt

[globalcookie]

Recently, CPF raised its debt ceiling. That got me very puzzled. CPF board has low operating cost compared to many stat boards or ministry, yet it collects a lot of funds monthly from our monthly CPF contribution.

So, why does CPF need to raise its debt ceiling?

What is National Debt? Is it Domestic Debt (owing to the people) or Foreign Debt (owing other nations)?

Just an indication,
Public Debt : $265,217,486,339
Public Debt Per Person : $49,558.56
Population : 5,366,408
Public Debt as % of GDP : 96.6%
Total Annual Debt Change : 7.8%
Source : http://www.economist.com/content/global_debt_clock


Another info from Accountant General Dept report dated July 2011.
Singapore gov securities (debt?) : $312 bil against 2010 GDP $304bil
GIC Investment : over $100bil at 31 Mar 2009
Temasek Investments : $193bil (portfolio) at 31 Mar 2011

The last 12 years, the Gov borrowing has been growing steadily, from below $150bil in 2000, to above $300bil in 2010.
http://app.mof.gov.sg/data/cmsresour...t%20Report.pdf

[globalcookie]

Looking at debt from Domestic Debt and Foreign Debt.
- It seems like Singapore has no Foreign Debt (or that assets can pay off).
- Domestic Debt can be due to CPF Board owing us, CPF contributors.

So what about our National Reserves? National Reserves shdn't include GIC and Temasek Holdings isn't it? Do we still have the hundreds of billions in National Reserve?

Also, why does CPF board need to raise debt ceiling? Is it because:
- More people contributing
- Project more people contributing (more PRs on the way)
- Intention to take more from us?

[hkh]

Honestly I had given up hope to get back my CPF upon retirement...... so I don't bother whatever ceiling they have raised over the years......

[stargazer]

Bro GC, our mr butler president should be able to answer your query. He ought to know, doesnt he?

[TuNA]

Originally Posted by stargazer

Bro GC, our mr butler president should be able to answer your query. He ought to know, doesnt he?

The day he knows, is the day I stop eating KFC...

[bobbysayang]

Originally Posted by stargazer

Bro GC, our mr butler president should be able to answer your query. He ought to know, doesnt he?

Maybe he knows, maybe he pretends not to know, maybe he doesn't want us to know.

Or maybe he knows that we know that he knows but he chose to pretend not to know so that we think that he doesn't know and go on our lives trusting a butler who knows but choose not to let us know that he knows.

Confusing? That's how the gahmen works!

haha!

[stargazer]

Originally Posted by bobbysayang

Maybe he knows, maybe he pretends not to know, maybe he doesn't want us to know.

Or maybe he knows that we know that he knows but he chose to pretend not to know so that we think that he doesn't know and go on our lives trusting a butler who knows but choose not to let us know that he knows.

Confusing? That's how the gahmen works!

haha!

yes...very confusing! but frankly, every time there is discussion on reserves, whether in forums or newspapers, I will always think of the late mr. ong. Sigh...

[Natureman]

What is National Debt? To me, debt is spending money we don't have. Are the SG garment going USA path, spending future generations' money?

[Andrew Tan]

Originally Posted by stargazer

Bro GC, our mr butler president should be able to answer your query. He ought to know, doesnt he?

The only president that trying to find the answer for us already left us.....the rest no hope de

Originally Posted by Andrew Tan

The only president that trying to find the answer for us already left us.....the rest no hope de

Tan Cheng Bock would be an improvement upon the current President. Tan Cheng Bock for President!