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How does one juggle non-existent funds?
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Posted on Jan 27 2005
This is with reference to Jesus Taisacan’s take on the veto of the FY 2005 budget. Mr. Taisacan needs to understand the overall economic picture—and therefore the financial posture of the NMI—before shooting from the hip. Obviously, his dangling view isn’t helping put into focus an educated discussion on the insolvency of the CNMI government.
Now, if he subscribes to the veto that includes the proposed wage increase for civil servants dubbed “illegal” by the governor, how does Mr. Taisacan resolve the blatant violation of the salary cap in favor of political stalwarts? It seems he’s dancing the waltz with this administration by subscribing to the re-arrangement of chairs on the deck after the boat has turned belly up.
Mr. Taisacan needs to realistically measure his shortsighted view against the tide of some $517 million in unpaid unfunded liability for the Retirement Fund, $20 million in unpaid government utilities for Commonwealth Utilities Corp., $100-plus million in cumulative deficit, millions more owed vendors, while lasting investments fatally decrease as to leave the inept dazed in their chairs. How do you juggle funds when the coffer of the local government is empty?
John S. DelRosario, Jr.
Koblerville
