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30-10-2012, 10:30 PM | #1 |
Dragon
Join Date: Nov 2007
Posts: 1,446
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National Debt
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 |
30-10-2012, 10:33 PM | #2 |
Dragon
Join Date: Nov 2007
Posts: 1,446
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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? |
31-10-2012, 01:05 AM | #3 |
Arofanatic
Join Date: Jun 2003
Posts: 113
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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......
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31-10-2012, 09:44 AM | #4 |
Dragon
Join Date: Sep 2011
Posts: 877
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Bro GC, our mr butler president should be able to answer your query. He ought to know, doesnt he?
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31-10-2012, 11:32 AM | #5 |
Dragon
Join Date: Dec 2010
Posts: 1,254
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31-10-2012, 11:51 AM | #6 | |
Arofanatic
Join Date: Oct 2008
Posts: 93
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Quote:
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! |
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31-10-2012, 12:46 PM | #7 | |
Dragon
Join Date: Sep 2011
Posts: 877
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31-10-2012, 04:30 PM | #8 |
Dragon
Join Date: Jun 2003
Posts: 1,204
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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?
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31-10-2012, 07:05 PM | #9 |
Senior Dragon
Join Date: Feb 2002
Posts: 4,587
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01-11-2012, 01:46 AM | #10 |
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