See http://www.nationaldebtclocks.org/debtclock/singapore & http://countrymeters.info/en/Singapore/economy
Our National debt is rising over to S421,000,000,000.00 (421 Billions), we need our government attention how not to burden increase on citizens pocket expenses.
The government spending and the country debt increased gradually this is true, the government’s debt rising means more interference and high turn increase the tax burden on citizens in the future state of the economy. The last ten years our cost of living, housing, property, consumer, utilities, public transportation, rents, goods continued to rise, such as government debt increases and cuts in state government and may fall into crisis, the government must understand and self-review where that the problem appears?
As a major source of national “pocketbook”, the tax revenue growth down, means that the government finances will be a “tight” state. Under the pressure of the economic downturn, by revenue “overdone tax” and arbitrary charges to increase revenue will increase the burden on enterprises, operating worse, resulting in long-term economic development, and lack of motivation. Take the “idle” mode inflated revenue, although the figures look good, but in the end only “paper wealth”, the government did not increase the available financial resources, but also distort the real situation of the economy, macroeconomic policy-making interference.
Increase revenue, but not uncontrolled increase in government debt issuance, “living beyond” (to describe this year’s grain to eat next year, figure of speech economic difficulties to make ends meet, can now advance misappropriation deficit of the property or income has not arrived, and regardless of the future) will not only raise the risk of government debt is unsustainable. Manage the national “pocketbook”; the most crucial point is to increase public efforts. Finance money in what place, resulting in what benefits have to give the public a “clear account”, the initiative to accept social supervision. Thus, the system only deterrent for those acts touch “red line” caused by the financial waste of money, or false, impersonator, mismanage of financial resources to a recovery in the end, those who make illegal pay the due price.
The keep rising costs of citizen living is the key factor, this is not evading the demand of citizens? Many country governments have lost the trust of the citizens and lost their vote is a fact.