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Horrifying national indebtedness!
The Freeman
|January 04, 2026
About two centuries ago, there was an American military leader who, after winning key battles, notably the Battle of New Orleans, became a president.
Andrew Jackson, the seventh U.S. president, was so known for his populist politics that he earned the label People's President. Coming from humble beginnings, Jackson represented the "common man" against elites as he advocated for fiscal responsibility. His famous quote was "Live within your means, never be in debt".I remember Jackson's economic advice upon reading horrifying information from the internet quoting a Bureau of the Treasury report that the Philippines' national debt grew to around P17.56 trillion as of October 2025. Let me cite historical facts and figures rather than flowery words as my context in saying "horrifying information" above.
Marcos - When FM was ousted in February 1986, the Philippine national debt was approximately P395 billion although other sources provided a different figure of P470 billion which was reported as four times the national government budget for that year.
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