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The Senate votes on debt limit

The government in Manila is taking advantage of taxing Tobacco. Franklin M. Drilon, acting chairman of the senate, is trying to make this tax a done deal. He thinks it should be taxed because it is a "sin" product. It would see the government raise 40-45 billion Peso's in tax revenue. Senator Ferdinand R. Marcos is concerned about this and is doing his best to prevent this tax. He knows the affects it could have on the tobacco farmers. There are about 18,000 tobacco farmers who are concerned about this tax. I think this is unfair of the Government. I don't think tobacco is a "sin" good, as it is many peoples alternative to drugs. This tax could put many producers out of jobs seeing as the demand will not be as high, and also this tax could force poor people to go back to cheaper alternatives that are very unhealthy and addictive.

The 2.2 trillion infrastructure bill in Thailand has been passed by the House of Representatives and the Senate and is waiting to be submitted for royal endorsement as soon as the Constitutional Court rules on its legality. If passed, the mega-project will improve Thailand's transport infrastructure, which includes high-speed trains and double-track railways. This development is a part of a physical capital factor, whereby the government aims to improve the social capital that is shared among the people in Thailand. Improved in transport will improve the welfare of not only the capital part of the city, but also the rural part of the city. This will ease the transport system of goods across the country and will create employment. Moreover, it can also promotes tourism.

the U.S. dollar edged down against the British pound and euro on Wednesday as a House vote on a Republican bill to reopen the government and lift the debt limit was cancelled, and Senate leaders resumed talks. The euro rose to $1.3551 from $1.3528 late Tuesday, and the pound advanced to $1.6013 from $1.5997. This article is a perfect demonstration of the currency war and the debt crises where the USA desperately tries to raise the debt barrier as depreciation of the dollar still occurs.