Looking ahead beyond ‘15

In casual discussion, the focus was on vision of the NMI a decade or so from now. The viewpoints vary significantly based on a participant’s perception and understanding of matters at hand. Some have skipped meaningful exchange while others were pointedly on the money.

There’s the persistent economic slump that takes a downward spiral, ballooning into a vacuum in spite of figures saying otherwise. You could justify your view using either public or private sources or origin of figures.

The disconnect, however, is in our experience or intuition versus a set of data. Breaking the concept down, we ask: Did the improvement translate into money for employees’ paychecks in either sector? Isn’t money the very essence of this rather imperfect science we refer to as the economy? Data could be saying one thing, though there’s still widespread economic dissatisfaction across the archipelago. Whatever the justification it simply fails to improve the sinking mood of perceptual buoyancy among employees.

As we search for clarity, the woefully slower than snail economic recovery is placed prominently at the forefront for verbigeration, if not regurgitation or both. Trickle-in investments have been met with toots and horns. Perhaps this view hails from the easier route of “go along and get along” confined to redundancy in perpetuity. It must be dysfunction under a “new normal.”

Or is it a situational miscalculation or more the lack of alternative vision to inspire the CNMI beyond a single-legged economy? Unfortunately, it quickly slides into the Field of Dreams. This issue takes more than wild ad hoc mode of planning. Its fragility makes it imperative or mandatory that we begin with a set of blueprints, specifically how to jumpstart a very sluggish economy.

Institutional investments like the service industry could only embrace so much by way of expansion largely dependent upon increase in the number of visitors. After this, is there anything in the horizon that could significantly stir revenue generation beyond last year’s $135 million? Mirrored against a huge cumulative deficit of over $4.8 billion this picture looks dim and grim. Could the NMI survive under a single and struggling economy?

There’s the dearth or scarcity of visionaries and poised leaders. So the idea of putting forth sturdy and positive policies to entice anchor or lasting investments leaves it suspect at best. The pomp and circumstance, while drowning in congratulatory aura, doesn’t leave much room for optimism. But let’s see what the new team has to offer. It isn’t a myth what must be done forthwith.

Would there be major stride building a robust economy or will it be another round of redundancy circling the bull cart? Without vision and leadership that “sees beyond the years” you could only keep your fingers crossed occasionally spewing muted long yawns. It presents a challenge wresting with the growing economic vacuum.

Gee! There’s a lot on our plate, huh?

Economic vacuum (famine)
IT is tasked to hit the ground running (in January) ready to rein-in investments of magnitude to trigger economic prosperity over the next two to four years. If this doesn’t happen then the stormy economic vacuum would metastasize—spread like cancer all over—forcing deeper hardship against our people. It’s old problems amidst suspect hope.

Casino being policy must forcibly be implemented to begin generating revenues to prop up the local coffers. Rota has casino policy. It must implement it forthwith so it participates, significantly funneling its share of revenues into the treasury. No more breastfeeding, please! Tinian has begun. Saipan is now threatening to begin!

From the corner of my eye, I could see the settlement fund (retirement) peeking from a window at the Horiguchi building for its share of remittance in order to ensure retirees are paid 100 percent of what’s due them. The NMI must fork out $27 million for this fiscal year.

For subsequent years it’s $30 million in 2016; $33 million in 2017; $45 million, 2018; $44 million in 2019;, $43 million, 2020; $42 million, 2021; $41 million, 2022; $40 million, 2023; $49 million, 2024. Add $69 million of the Fund’s unfunded liability plus current deficit and continuing deficit spending and $7 million in federal court decreed payment against CUC. The cumulative deficit for the next decade is nothing less than $4.8 billion!

What’s the future for DB members who withdrew their money? Do we figure out a cash-balance retirement program for them or simply ignore their future? Do we keep them in government beyond 20 years just so they could continue bringing home the bacon? There’s a realistic answer that weary elected officials have ignored out of exhaustion, therefore incapable of using the power of creative ideas in financing.

The more conversant participant on health issues related that the amount of money the NMI spends on medical referral expenses requires serious ocular review. He related that over $3 million is spent annually for off-island medical referral. “It’s time to look inward and use these funds to upgrade the local hospital beyond ambulatory level.” Agreed!
Use of alternative energy has been reduced to 20 percent, a policy decision that suffers considerably from the lack of foresight. The current system is so old we’d be lucky if we could hook solar and wind energy into the grid. Notice too that nobody wants to discuss the cost of hooking either system to the grid? Why the tiptoe? Fearful of who shoulders the cost of installation?

This ensures that even politicians can learn to trust a healthcare system they’ve refused to fund for several fiscal years now. Everybody gets treatment at CHC including former governors who plundered the livelihood of our people.

The NMI is definitely fiscally challenged. Well, whether we like it or not it’s time we rally behind the new administration and help where we can to move issues forward with a sense of enthusiasm. Its success or failure is equally ours too!