Wednesday, October 26, 2011

Auditor General's Report 2010

I climbed the stairs to the MCA Petaling Jaya Selatan office which served as the venue for the Money Mastery Toastmasters meeting last evening. I was invited to grace the meeting as the General Evaluator and I skipped my own Taman Indrahana Toastmasters meeting to be there. I certainly enjoyed the meeting because there was good company, good food and good speeches and evaluations. Even better was that the meeting started on time – it seems that Francis Ng had warned his members that I am particular about punctuality and everybody actually came before the appointed time! Wow, I was impressed! I would give this meeting a score of 8 out of a 10.

I flinched in horror when I read that the Malaysian government had to use their cash pile to make up for the RM5.95 billion shortfall in their 2010 expenditure and outlay, according to the 2010 Auditor-General’s Report released Monday. This left the government with only RM21.57 billion cash as at December 31, 2010 (The Edge Financial Daily, October 25, 2011, p 1).

Not only that but Malaysia’s national debt resolutely rose to RM407.11 billion ($130 billion) last year and this represented 53.1 percent of GDP (The Malaysian Insider, published October 24, 2011). It's the second straight year that the national debt has exceeded 50 per cent.

Isn’t it time the government go on an austerity drive? Isn’t it time Najib stops spending our money any way he wants? Isn’t it time that Malaysians boot Najib out so that we can safeguard our future?

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