Ministers, markets ...

.... and their pay.

The debate over Cabinet salaries is evidence of transparent and, by implication, good governance. What isn't so transparent are the bonuses also paid to Ministers. Okay, it's probably not a good thing to publicly humiliate a Cabinet Minister by revealing his low or zero bonus.

But, it seems that the size of the bonus is closely connected to hitting GDP growth targets. And, according to an impeccable source: Minister Mentor Lee no less, hitting the upper target in the predicted range of 4.5% to 6.5% depends on US consumer spending! Isn't that supposed to be the result of brilliant policy making? From million-dollar ministers?

Surely, then, if we want to be more certain of this beneficial outcome, we should pay the salary of US Federal Reserve Bank Chairman Bernanke. And also the members of the Open Markets Committee that decide on interest rates and money supply.

Let's set aside about S$15 million to be paid to these US Fed executives if they "help" us hit 6.5% GDP growth by keeping down US interest rates, thereby stimulating consumption!