The Rhetoric
“Our prospects are brighter than before. Our economy is growing strongly again. The future is ours to make.”
– PM Lee Hsien Loong, Inauguration Speech, Aug 12, 2004The Reality
“4,190 people were made bankrupt in the first 11 months of last year – the highest in 19 years.”
– Straits Times, Jan 15, 2005“More and more Singaporeans are working past the age of 65 as they lack retirement funds. As of June last year, 35,727 Singaporeans aged 65 and over were still employed, up from 22,699 a decade ago (1993), according to MOM statistics. The majority, or 35.7 per cent, worked as cleaners and in other related menial jobs. This means their incomes will fade with their strengths.”
– Straits Times, Dec 18, 2004