Imperative 46: I-Congress laws versus high inflation, State profligacy and nationwide over-borrowing
To further help in ending mass poverty, laws that enforce pro-people monetary management by State need to be passed and promulgated by the Philippine I-Congress as follows: 1.0 State Spending Limit Law: Yearly State budget increases must not exceed 5 years' average inflation-adjusted gross domestic production rate increases. Such provision will prevent old-style politicians' excessive expansions of money and credits ostensibly for development but are instead used for unproductive vote-attracting projects with 40-50% arrangers' commission 'on the side'. Economic logic and history consistently point out that unproductive State expenditures lead to unbridled price increases of goods and services (which hurt the masses most), but such history just keeps on repeating itself in the Philippines. Hence our State Spending Limit Law together with other related laws should address the following targets: 1.1 End P...