#National Treasury

[mapsoffun]

Scenes from my walk around the Mall and Pennsylvania Avenue, part one. 

[ricisidro]

Your health is the greatest wealth.

#HealthIsWealth #HealthInsurance #UniversalHealthCare #UHC #HealthForAll #Filipinos

The Supreme Court of the Philippines has required respondents House Speaker Martin Romualdez, Senate President Francis Escudero, Finance Secretary Ralph Recto, Executive Secretary Lucas Bersamin and Philippine Health Insurance Corporation President Emmanuel Ledesma, Jr. to comment on the petition against the transfer of P20 billion funds of the state insurer to the National Treasury.

SC spokesperson Atty. Camille Ting said the court en banc made its decision during its August 13 session.

Petitioners Sen. Koko Pimentel, Cielo Magno, Ma. Dominga Cecilia Padilla, Dante Gatmaytan, Ibarra Gutierrez as well as organizations Sentro ng Mga Nagkakaisa at Progresibong Manggagawa, Inc., Public Services Labor Independent Confederation Foundation, Inc., and Philippine Medical Association have asked the Supreme Court to order the the return of the P20 billion PhilHealth funds “already taken away by the national government.”

[head-post]

Russia has an unprecedented amount of money in its treasury

A new CREA analysis shows that Russia has entered 2024 with an unprecedented amount of money in state coffers, helped by a record $37 billion in crude oil sales to India last year, CNN reports.

In a new analysis, experts concluded that some of the crude oil was refined by India and then exported to the US in the form of petroleum products worth more than $1 billion.

According to an analysis by the Centre for Research on Energy and Clean Air (CREA), exclusively provided to CNN, this stream of payments, which ultimately benefits Moscow, is because India has increased its purchases of Russian oil by more than 13 times its pre-war volumes. This is tantamount to New Delhi, a strategic partner of the US, replacing Western buyers with oil purchases reduced due to sanctions imposed over the conflict in Ukraine.

The sale of Russian oil to India is entirely legal and not subject to sanctions, but in examining the shipping route, experts have suggested that this huge volume of shipments may involve a so-called “shadow fleet” of tankers specifically created by Moscow to maximise the Kremlin’s profits.

Read more HERE

[ridenwithbiden]

REPUBLICONS SERVE THEMSELVES

THEY'RE IN IT FOR THE MONEY

PERIOD

[alexanderpearce]

this fucked up picture of the treasury, the national library, questacon, and the questacon science circus

[eternalistic]

"The American government’s big pile of IOUs is about to get even bigger.

That was the conclusion of the latest report from the Congressional Budget Office, which forecast this week that the US is on track to add $19 trillion to its national debt by 2034, with payments on that debt totalling some $12 trillion as higher interest rates increase the burden of the nation’s borrowing.

‍Serious interest

‍In the latest fiscal year, which ran to the end of September, the federal government raked in more than $4.4 trillion in receipts from individual taxpayers, with nearly half of that sum stemming from individual income taxes ($2.18 trillion). But, as many of us can surely relate to, the government's spending appetite consistently outpaces its income, resulting in a deficit of $1.7 trillion.

The magnitude of the national debt, currently ~$34 trillion in total, means that the government is shelling out nearly $2 billion a day on interest payments (~3% of GDP) just to service the debt. Were the government to somehow magically wipe out its debt — leaving it with no interest to pay — it would have saved a whopping ~$660 billion last year, though that still wouldn't be enough to get the overall federal budget back into the black.

The CBO forecasts have sparked a national conversation about the right level of federal spending, raising questions that beg political answers, rather than definitive economic ones."

[somethingusefulfromflorida]

You wanna know what really fucking bugs me? The only Secretary of the Treasury whose name I know is Steve Mnuchin, Donald Trump's corrupt little toady. I know this because every single dollar bill has the signature of the Secretary of the Treasury on it, and while most signatures are illegible caligraphic scrawls, Steve printed his name in block letters like a child. Nine out of ten bills I get as change have his name on them, clear as day, so I am consistently reminded of the nazi regime that destroyed us. I don't know George W. Bush's Secretary of the Treasury, I don't know Barrack Obama's, I don't know Joe Biden's, but I know trump's, and I can't even ignore it when I see it.

These bills will circulate for decades. People are going to collect them in the future. Someone is going to frame one and hang it on their wall as the first dollar they ever earned. It makes me so irrationally angry I could spit.

STeVen T: MNUChin with random capitalization as if he had to sound it out one letter at a time, fuckin ay...

[raajasii]

[jobskenyaplace]

TENDER FOR LEASING ELECTRIC VEHICLES UNDER THE GOVERNMENT MOTOR VEHICLE LEASING PROGRAMME

THE NATIONAL TREASURY & ECONOMIC PLANNING TENDER DECEMBER 2024  OPEN NATIONAL TENDER TENDER FOR LEASING ELECTRIC VEHICLES UNDER THE GOVERNMENT MOTOR VEHICLE LEASING PROGRAMME  TENDER NO: TNT/ONT/018/2024-2025 1. The National Treasury invites sealed Local and International Tenders from Original Motor Vehicle Manufacturers, dealers, assemblers, Leasing Companies and Interested Firms for Leasing of…

[bopinion]

2024 / 49

Aperçu of the week

"We must stand up against injustice and persecution, for silence only perpetuates suffering."

(Trygve Halvdan Lie, Norwegian politician and diplomat who served as the first Secretary-General of the United Nations from 1946 to 1952)

Bad News of the Week

This week I can't decide what the bad news of the week might be. There were and are two facts that both make me sad and upset. Both of them don't exactly paint the future in a rosy light. One is the inconclusive United Nations “plastics summit” in Busan, South Korea. The other is a shocking UNICEF report on the impact of acts of war on children.

Let's start by talking about an indispensable prerequisite for the future of humanity: the integrity of the environment. Alongside climate change, environmental protection and biodiversity, reducing pollution must be a central concern for us all. Nevertheless, it was clear from the outset that the “UN Summit on Reducing Plastic Waste” was unlikely to succeed. But I find it sobering that the result is absolutely zero.

A few facts: 400 million tons of plastic are produced worldwide every year. Of which at least 150 million tons are not disposed of properly and end up in nature. From the deepest depths of the oceans to the highest peaks of the land, plastic waste can be found everywhere. And according to studies by the Medical University of Vienna, around 5 grams of microplastics end up in the stomachs of us Europeans every week - that's pretty much the equivalent of a credit or health insurance card.

It was clear from the beginning that a reduction in plastic waste could not only be achieved by improving disposal and recycling - 90% of countries on this planet simply lack the infrastructure for this. But by reducing plastic production and using (packaging) alternatives. It is predicted that global plastic production will triple by 2060. So obviously I'll be eating three plastic cards a week when I'm old.

Unsurprisingly, the summit was torpedoed by the oil states. Obviously, they fear a slump in demand from the fossil fuel sector - the keywords being electromobility and heat pumps - which they would like to compensate for by expanding their second most important sales market: plastic production. Saudi Arabia & Co. therefore refused to compromise and the conference, at which more than 100 countries sought an “ambitious agreement”, ended without any results. True to the credo that unfortunately always applies at the UN: nothing is decided until there is agreement on all points.

Now let's talk about another indispensable prerequisite for the future of humanity: the integrity of children. And this is obviously anything but a given. According to the latest figures from the children's charity UNICEF in the report “Childhood under attack”, one in six children worldwide - around 460 million girls and boys - are nowadays growing up in a war or conflict zone. That is more than ever before.

The situation is particularly serious in the Gaza Strip, Ukraine and Sudan. In the conflicts there, thousands of children were injured, maimed or killed as a result of fighting in 2023. Time and again, there is a risk that “vital basic supplies and children's education will be interrupted”. According to UNICEF, serious violations of children's rights include the killing and maiming of children, the recruitment or use of child soldiers, rape and sexualized violence as well as abductions.

As a father, such things leave me speechless. I worry about school grades. And I get annoyed when the toilet isn't cleaned. My children each have their own. Most children on this planet can't even imagine that, they would be happy to have clean water. Every sixth child suffers from the consequences of war - not just physically at the moment, but psychologically for the rest of their lives. I could cry hysterically and shout out aggressively at the same time.

What do we learn from all this? Humanity is stupid. And is gambling away its future because it is too comfortable in the present to fundamentally change anything. I have often joked that I expect my daughter, who is currently studying political science, to become the first female UN Secretary-General. My wish is not so much to be able to visit a cool loft in New York City at any time. But that she and her generation save the world. Because me and my generation have pretty much screwed everything up.

Good News of the Week

At first I wasn't sure whether the developments in Syria should be seen as bad news or good news. Of course, it is always good when a proven dictator loses power. On the other hand, it is also bad news when someone comes to power who is considered by many to be a jihadist. The choice between Bashar al-Assad and Abu Mohammed al-Jolani could therefore be like choosing between plague and cholera. One would prefer to avoid both. Because both can be fatal.

I left the decision to someone who should know: a Syrian. He fled his country in 2015, leaving his parents and siblings behind, because he simply saw no future for himself in a country torn apart by civil war. Especially as he could be used as a soldier by the regime. And this Syrian is happy about the development. He doesn't have a crystal ball either. But he sees change as a fundamental opportunity. After all, al-Assad has shown unequivocally for years that he was and is not prepared to make any changes. We don't know this about al-Jolani. So a certain hope is perhaps naive. But certainly not absurd.

It remains to be seen whether the new ruler's HTS (Hajat Tahrir al-Sham) can also achieve political success after its military successes. The biggest challenge here is undoubtedly building bridges with the other groups. Because there are still loyalists of al-Assad, various Shiite groups, placeholders for Iran and Turkey, religious minorities such as Alevis, Druze and Christians as well as the Kurds, a large people who have nowhere to call home. So far, only the dominant Sunnis are in a party mood.

However, two external powers have already lost out with the end of the al-Assad family's 54 years of tyranny. The first is Iran, which would have loved to be the regional hegemon between the Hindu Kush and the Mediterranean and would have liked to keep parts of Syria as a vassal state. As the incoming US President Donald Trump is also an avowed opponent of Tehran and the vast majority of the Iranian population obviously wants to see an end to the Islamic Republic, the mullahs are likely to face difficult times.

And then, of course, there is Russia. One almost gets the impression that the Kremlin was either genuinely surprised by the rebels' incredibly rapid triumph. Or that it deliberately decided against a two-front war in order to avoid having to withdraw military capacities from Ukraine. The family of dictator Bashar al-Assad has now officially found “asylum on humanitarian grounds” in Moscow - a joke. It will be interesting to see whether Russia will actually give up its geostrategic sphere of interest. After all, the country maintains military bases in Syria, including a naval base on the Mediterranean coast.

At the moment, everything is open and many things are possible. And the focus must now be on supporting the civilian population. Even in the capital Damascus, there is only one hour of electricity a day. And the European Union is already preparing deliveries of food and medicine across the Turkish border. So far at least there has been hardly any bloodshed, a dictator has been ousted and two terrible regimes, Iran and Russia, have been humiliated. Yes, that's definitely enough good news for me.

Personal happy moment of the week

I have three new colleagues at work. Three young students who naturally want to earn money alongside their studies. All three of them could be my children. And yet we have found a pleasant connection with each other. I forced them to go out for dinner with me. And I think we all enjoyed it. I was also able to get to know a new cuisine for me with Korean barbecue. Thank you for your time, I really appreciated it.

I couldn't care less...

...that the right-wing nationalist AfD (Alternative für Deutschland / Alternative for Germany) is seriously considering getting rid off its own youth organization “Junge Alternative”. Because it is too extreme. Of course. But SS fan Maximilian Krah is allowed to run for parliament. And the völkisch Björn Höcke is still state chairman in Thuringia. Does anyone seriously believe that the AfD wants to become a responsible democratic force? Nope.

It's fine with me...

...that the trade agreement between the EU and Mercosur (Brazil, Argentina, Uruguay and Paraguay) has finally made it over the finish line after 25 years. Our leading news program Tagesschau calls it the “imperfect deal that is better than no deal at all”. And they are right. Because at a time when nationalist and isolationist economic policies are gaining ground, cooperation is essential. And at eye level. China has long been the region's most important trading partner. The People's Republic does not negotiate. It comes, builds a port and receives political favors in return. Environmental protection and human rights play no role. It's different with the EU - and that's exactly what is appreciated in South America.

As I write this...

...I am still rubbing my eyes at what is happening (or has happened) in South Korea. In view of the escalating situation between the two brother states, I got a huge fright when I heard the two words war and Korea in one sentence. The fact that it was “only” the proclamation of martial law by the apparently crazed President of the Republic of Korea, Yoon Suk-yeol, who was trying to push through budget plans against an opposition majority, quickly calmed me down. Nevertheless, I am very concerned about South Korea as an anchor of political stability in the region and I hope that the country will soon regain its composure and come to its senses.

Post Scriptum

There are a few positive exceptions to the round of unqualified idiots that Donald Trump has appointed to important government posts - and will push through thanks to the Republican majority in the Senate. These include the investor and head of the Key Square Group Scott Bessent, who is to become Treasury Secretary. This will essentially make him the highest ranking US economic official responsible for keeping the world's largest economy running. He will also lead US financial sanctions policy, oversee the US-led International Monetary Fund, the World Bank and other international financial institutions, and be responsible for national security reviews of foreign investments in the US.

Bessent advocates for tax reform and deregulation, seeks higher growth, lower volatility and lower inflation, and wants a revitalized economy for all Americans. Not magic by any means, but at least programmatic, which is completely lacking in practically all of Trump's other picks - such as Pentagon chief-designate Pete Hegseth. A hedge fund manager, the very symbol of predatory capitalism, becomes the most powerful financial manager in the world and there's something good about that? Yes, we've come this far. Sigh.

[bitcoinversus]

Rumor: A Bitcoin Strategic Reserve Could Reduce The National Debt By $16 Trillion

Senator Cynthia Lummis has introduced the BITCOIN Act, proposing that the U.S. Treasury acquire 1 million bitcoins over five years to establish a strategic reserve aimed at bolstering the dollar and countering inflation. MicroStrategy Chairman Michael Saylor supports the initiative, suggesting that such an acquisition could potentially reduce the national debt by $16 trillion. The proposed…

[sapphia]

USA please listen to me: the price of “teaching them a lesson” is too high. take it from New Zealand, who voted our Labour government out in the last election because they weren’t doing exactly what we wanted and got facism instead.

Trans rights are being attacked, public transport has been defunded, tax cuts issued for the wealthy, they've mass-defunded public services, cut and attacked the disability funding model, cut benefits, diverted transport funding to roads, cut all recent public transport subsidies, cancelled massive important infrastructure projects like damns and ferries (we are three ISLANDS), fast tracked mining, oil, and other massive environmentally detrimental projects and gave the power the to approve these projects singularly to three ministers who have been wined and dined by lobbyists of the companies that have put the bids in to approve them while one of the main minister infers he will not prioritise the protection of endangered species like the archeys frog over mining projects that do massive environmental harm. They have attacked indigenous rights in an attempt to negate the Treaty of Waitangi by “redefining it”; as a backup, they are also trying to remove all mentions of the treaty from legislation starting with our Child Protection laws no longer requiring social workers to consider the importance of Maori children’s culture when placing those children; when the Waitangi Tribunal who oversees indigenous matters sought to enquire about this, the Minister for Children blocked their enquiry in a breach of comity that was condemned in a ruling — too late to do anything — by our Supreme Court. They have repealed labour protections around pay and 90 day trials, reversed our smoking ban, cancelled our EV subsidy, cancelled our water infrastructure scheme that would have given Maori iwi a say in water asset management, cancelled our biggest city’s fuel tax, made our treasury and inland revenue departments less accountable, dispensed of our Productivity Commission, begun work on charter schools and military boot camps in an obvious push towards privatisation, cancelled grants for first home buyers, reduced access to emergency housing, allowed no cause evictions, cancelled our Maori health system that would have given Maori control over their own public medical care and funding, cut funding of services like budgeting advice and food banks, cancelled the consumer advocacy council, cancelled our medicine regulations, repealed free prescriptions, deferred multiple hospital builds, failed to deliver on pre-election medical promises, reversed a gun ban created in response to the mosque shootings, brought back three strikes = life sentence policy, increased minimum wage by half the recommended amount, cancelled fair pay for disabled workers, reduced wheelchair services, reversed our oil and gas exploration ban, cancelled our climate emergency fund, cut science research funding including climate research, removed limits on killing sea lions, cut funding for the climate change commission, weakened our methane targets, cancelled Significant National Areas protections, have begun reversing our ban on live exports. Much of this was passed under urgency.

It’s been six months.

[kommabortsig]

Preserve_Machines_-NARA-_534464.jpg

[david-deactivated69420]

one day my brain will break in two and i’ll devote the rest of my life to chronicling american politics from 2015 to 2022ish.

[satireinfo]

President Biden Announces Plan to Cut National Debt by Turning It into an NFT

President Biden Announces Plan to Cut National Debt U.S. Treasury Embraces Crypto with New Debt NFTs Citizen Investors and Virtual Repo Men: A New Era of Fiscal Responsibility In a groundbreaking move that merges economics with the latest digital trends, President Biden has announced an innovative plan to cut the national debt: by turning it into a Non-Fungible Token (NFT). This bold strategy…

[notayesmanseconomics]

There are warning signs about the US fiscal position and the national debt

Today a story which was all the rage around 6 months ago has come back to the surface as the Financial Times has led with this. The US faces a Liz Truss-style market shock if the government ignores the country’s ballooning federal debt, the head of Congress’s independent fiscal watchdog has warned. To be fair to the head of the Congressional Budget Office he knew how to trigger the Financial…