BN government's debts skyrocketing

The BN federal government's fiscal debts has by now reached up to RM456.1 billion and the government's debt is further burdened by an additional of RM16.76 billion in contingent liability spread between loans guaranteed as public debt at RM109.14 billion and off-shore loans amounting to RM7.62 billion.

This means, the BN federal government's debt had in fact exceeded 65 percent of the gross domestic product (GDP) and it shows that the government had clearly violated the Loan Act 1959 and the Government Funding Act 1983 which stated the maximum limit of 55 percent to the GDP ratio.

Just look at how the government debts had increased all these years:

1. RM146 billion in year 2002,
2. RM242 billion in year 2006,
3. RM456.1 billion in 2011,

So, what would happen between five to ten years time if the debts were to continue to increase? Maybe, in five years the debt would shoot up to 100 percent and in ten years time our nation would go totally bankrupt, bankrupt in the sense that there would be nothing left in the Treasury other than some depreciating assets.

The spending trend of the government has been off-balance since 2003 and no real efforts were being initiated to curb such negative elements within the government.

Just look at how did all these statutory bodies and government linked companies (GLC) took the loans from the government? Yes, they taken the government loans in billions too but how were the repayment like? No one knows of the arrangement within as all these were stated as confidential or "rahsia" in their files.If anyone were to take this up to the public, the government will then initiate the Official Secrets Act (OSA) against them.

And this is how the BN government, the statutory bodies and the GLCs are covering up all their misdeeds, corruptions, mismanagement of public funds and power abuses.

These BN leaders could give whatever reasons they one but we all still view such issue as something was not right and the funds has been blatantly abused.

Lastly, hands off our Employees'  Provident Fund (EPF) savings! This is warning.