Mr. Obama has put in place a US$ 1.75 trillion deficit budget to try and kick start the crumbling economy in the US. This includes US$ 787 billion to be handed over to failing banks as dole so that innocent depositors do not lose their shirts while rich bankers and Wall Street types milk the system with unwarranted bonuses in spite of huge losses. Well, well, well – what does this imply – is the US going towards nationalization of banks which accept Government aid. Looks like wanton capitalism is taking a back seat to a bit of socialism in the principal capitalist nation in the world. Reality bites I would call it.
Another interesting part of this humungous deficit funding by the US is the dole to Pakistan – a miniscule US$ 5 billion towards a one time bailout for its economy and military. This is over and above the US$ 1.5 billion which the US gives Pakistan annually as dole. The interesting part is the handout is in spite of Government auditors confirming that Pakistan has fudged receipts (a la Satyam) to milk the US. Looks like some people never learn, the blinkers never come off and they just bend over asking for more and more…….. The Pakistanis keep giving it to them……… sad state of affairs. The argument is always that a failed Pakistan state is far more dangerous than one which is milking the US tax payer…..after all…..the deficit tomorrow is going to be bridged by revenues from somewhere…..and my friends residing in the US you are willy nilly part of the somewhere…..extra dose of taxes once the economy stabilizes – no escaping that!
In Pakistan democracy is being given a bad name…..the Court route has been used by Zardari to ban Nawaz Sharif from the Pakistani political landscape. If electoral politics is being put on the backburner – then as per US law – they should not be funding Pakistan – but the ubiquitous Presidential waiver will be brought in and money handed over. The sad part is India will have to bear the brunt and have to be ever vigilant to withstand the misuse of the American dole, a large chunk of which will as always be directed with clandestine activities in and against India.
India needs to be on its guard as with the forthcoming elections we will be in a vulnerable position as decision taking may take a back seat. The Government of the day needs to ensure that the armed forces morale is not brought down. The Government of India has also doled out budget sops to the central and state government employees by increasing the DA. I just hope that the government considers the armed forces as part of the Central Government. I really hope the Government finds the money to pay the armed forces in parity with their civil service counterparts. Let us not forget that the civil servants also owe their safety and liberty to the armed forces – in my opinion the armed forces should be paid more than their civil counterparts. Lets not have to see bravery award winners returning their medals in future because they are being given a raw deal by some mentally retarded politician/bureaucrat nexus.
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