"Ruto Is Terrified"Angry Jimi Wanjigi Reveals Ruto Hidden Secrets, Stolen Billions,Gen Z Revolutions

Summary

The video script reveals the financial mismanagement and debt crisis plaguing Kenya, highlighting the government's manipulations of public finance laws to enable massive borrowing. Over ten years, Kenya borrowed an astonishing 7.7 trillion, leading to astronomical debt payments consuming over 70% of tax revenue. Despite efforts to raise taxes and avoid default, the situation worsens, with national debt continuing to rise and the economy stagnating. The speaker condemns the current leadership, particularly President William Ruto, and warns that unless drastic action is taken to sever the cycle of debt, Kenya’s future remains dire, with no relief in sight until 2034.

Takeaways

• 😀 The amendment to the Public Finance Management (PFM) Act in 2014 was a strategic move to bypass the Constitution, specifically Article 206, allowing funds to be diverted without entering the Consolidated Fund.
• 😀 Two new exceptions (C and D) were added to the PFM Act to allow government-to-government loans and external loan fees to bypass the Consolidated Fund and be directly allocated to suppliers or lenders.
• 😀 These amendments were described as a deliberate act of criminality, with the approval of the Attorney General at the time enabling this action.
• 😀 Over a span of 10 years (2013-2023), Kenya's total expenses amounted to 16.4 trillion, while revenues were only 13.3 trillion, creating a budget deficit of 1.2-1.3 trillion.
• 😀 During this period, Kenya borrowed a total of 7.7 trillion, with 6.4 trillion not contributing to the budget or Consolidated Fund, leading to a wasteful expenditure that financed nothing.
• 😀 Despite paying 7 trillion towards debt servicing, including 5.6 trillion over 10 years, Kenya's outstanding debt continues to grow, with 11 trillion still remaining.
• 😀 A significant portion of the country's tax revenue (around 70%) is being spent solely on debt repayment, leaving little room for other government expenditures.
• 😀 The government faces an unsolvable situation where the country is paying for past debts, with a debt crisis resembling that of Sri Lanka, and no relief expected until 2034.
• 😀 President William Ruto, a participant in the debt accumulation process, is seen as unable to reverse the damage and is being accused of postponing his exit from power rather than addressing the economic crisis.
• 😀 The government's reliance on high taxes and the failure to find a solution to the debt problem has led to inflation and recession, creating a difficult economic quagmire that is unlikely to be resolved without drastic measures.

Q & A

What amendment to the Public Finance Management Act was discussed in the script?

The amendment to the Public Finance Management Act, 2014, introduced by Majority Leader Bond honorable D, made significant changes to the way certain loans and financial dealings were managed. It included exceptions to the Consolidated Fund, allowing some loans and financial expenses to bypass it and be directly disbursed to suppliers, particularly for government-to-government loans.

What was the impact of the amendments made to the Constitution through the Public Finance Management Act?

The amendments added new provisions, C and D, to the Public Finance Management Act, which allowed government-to-government loans and certain external borrowing-related expenses to bypass the Consolidated Fund. This amendment, deemed criminal by some, was seen as a deliberate maneuver to facilitate financial mismanagement and create a long-term financial burden.

What is the significance of the $1 billion mentioned in the script?

The $1 billion mentioned in the script represents the starting point of a series of financial mismanagement activities. It was described as the beginning of a broader heist that inflated government debt and fueled further borrowing, leading to long-term financial enslavement of the nation.

What were the total government expenses and revenues between 2013 and 2023 as discussed in the script?

Between 2013 and 2023, total government expenses amounted to 16.4 trillion Kenyan Shillings, covering development, county expenses, salaries, pensions, and operations. In contrast, the government's revenue was significantly lower, reaching only 13.3 trillion, creating a budget deficit of approximately 1.3 trillion over the 10-year period.

What role did borrowing play in the government’s financial situation during this period?

The government borrowed a total of 7.7 trillion Kenyan Shillings over 10 years, with 6.4 trillion of this amount not allocated to any specific budget line. This borrowing did not directly contribute to government development or operations and was considered part of the financial mismanagement discussed in the script.

How much debt had the government paid by the time Muru left office?

By the time Muru left office, the government had paid 5.6 trillion Kenyan Shillings towards the debt, with an additional 1.4 trillion paid in the first financial year of President William Ruto’s administration. However, the remaining outstanding debt amounted to 11 trillion Kenyan Shillings.

What percentage of tax revenue was being used to pay off debt?

In December, 77% of Kenya's tax revenue was directed towards debt servicing, and in November, it was 78%. This means that a significant portion of the country's tax revenue was used to service debt, leaving limited resources for other essential government functions.

What does the term 'debt slavery' mean in the context of this script?

'Debt slavery' refers to the long-term financial burden created by excessive borrowing and debt repayment, which hampers the nation's ability to invest in essential services and development. The script describes how the country is ensnared in a cycle of debt repayment that restricts economic freedom and future growth.

How does the script describe President William Ruto’s role in the ongoing financial crisis?

President William Ruto is portrayed as a participant in the financial mismanagement and debt accumulation that led to the crisis. The script suggests that Ruto is unable to resolve the issues because he is entrenched in the same system that caused the problem and is living with the legacy of previous regimes.

What is the predicted impact of the debt on future generations, according to the script?

The script predicts that unless the debt is addressed, future generations will be burdened by the ongoing payments. It suggests that if the financial system is not reformed, the debt will continue to compound, and a large portion of tax revenue will remain allocated to servicing this debt, leaving little room for other priorities.