Php. 6.4 Trillion outstanding debt

[crisipicada]

What can you say about our economy with outstanding debt of Php. 6.4 Trillion. With the population of approximately 100 Million, every Filipino has Php. 64,000 debt. Is this a good economy or what can you say about this?

For more info, I learned that, this has been the country's debt since Marcos administration. In this economic situation we have, who do you think be the president that can address this problem?

[cheryz]

Wow that's a huge money. First I really don't know the debt how huge is it. It doesn't matter who will be the president is. The important thing is you have faith with God, you wake up day by day, have work for living and love your family and friends they can help you when your are down.

[crisipicada]

That is true. We are in debt. However, even the Western countries like the US, its debt is equivalent to every household has a corresponding or equivalent of $160,000 or more or less Php. 7.5 million every household. I read that early this year if I am not mistaken. I just forgot what article it was. How can we be debt free. I guess we need to be educated financially.