Economist Mary King wrote in the Trinidad and Tobago Express on November 30th 2009 “In this recession or whatever, the Government has not reduced its spending to fall in line with its income. Its income from the energy sector was TT$25.7 billion in 2007-2008, TT$11.7 billion in 2008-2009 and is expected to be TT$7.7 billion in 2009-2010.” That is a pay-cut of over 66.667%. She went on to explain that the Government is borrowing TT$ 13 billion to continue its spending habits on, I assume, things like flagpoles, scholarships for the boys and girls and The Chinese.
I am no economist or doubles man but the situation looks bleak and since the Government is more into saying things like “the sky is not falling,” “no Private Jet at this time, check me back after CHOGM,” “So what,” “we will not go into a recession. The check clear yet?” and “One more Baily bridge, please” I am not hopeful for the country past Ole Years Day. This shortfall of taxes from its main foreign exchange earner along with Ministers who don’t know their butt from their PM, indicates that the TT dollar might soon be worth less, if not worthless. Hops bread will be the new Miami condo.
With the recent revelations about the handing out of scholarships as if the money belonged to a political party, I would say somebody or bodies should be jailed for the rest of their natural life or lives. People are fed up of the incompetence, arrogance, squandermania, favoritism and spitefulness of this Government to the point where people are now smiling less coherently.
If the price of oil, gas, urea, ammonia and methanol don’t go up substantially and very soon, we will shortly be seeing a Trinidad and Tobago that resembles Curepe Junction on a Saturday morning; hookers and no police and all.