That deadly deficit hangover
Tharman was talking about economic principles and the need for exit strategies and direct, targeted help. On govt spending and fiscal policies he warned that govts need an exit strategies for over spending or else the bubble will burst. This tickles my thought about exit strategies for the high property prices and the payback of our CPF money. What kind of exit strategies are there to prevent the bubble bursting, or to prevent the poor 99 lease holders from seeing their multi million dollar properties turning to 0 value when the leases expire? And the huge CPF debt owed to the CPF contributors, how and when would they be returned? Delaying payout, shifting the goal posts, more schemings, would only delay the problems but would not solve it. In fact the problem will only snowball unless there is a workable exit strategy to pay back when the money is due. The two nightmares that Singaporeans are facing are, one, when their properties, worth millions of dollars, become nothing. The second nightmare is when they realise that the CPF money is only a dream, to feel good, to be happy reading the numbers on a piece of paper and feel very rich. And yes, Tharman still thinks that it is a bad idea not to tax on basic necessities. It is better to tax on them and then targetted the money collected to those who need the money. An excellent strategy which I still don't agree. Just like the strategy of escalating property prices.