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Bankruptcy of NMI government
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Posted on Apr 19 2006
Some 13 years ago, I took pride of the CNMI’s declaration before the U.S. Congress that we no longer need grant funds for government operations.
No other insular area did this at the beggar’s table but the NMI during the bubble years. We hardly saved for that rainy day because we honed the picnic attitude that everyday is a holiday. This picnic attitude now haunts every government employee for there looms our historic first payless payday that may occur on Friday, 28 April.
It’s interesting the net effect of unbridled spending or lack of fiscal discipline in years past. Thirteen years ago today we are back at the beggar’s table genuflecting and pounding mea culpa for help.
At the same time, we seemingly refuse to demonstrate to our benefactors in Washington that we are willing to pitch in to help save ourselves from ourselves. What an adolescent mindset, when in fact government employees make at least three dollars more than private sector employees. My salute to the latter group for taking the brunt of work-hour reductions, furloughs and even termination since four years ago.
Well, strike up the band and let’s start singing, “Don’t worry, be happy, there’s hardly a penny in the kitty.” The local government’s bankruptcy is as real the mountain of deficit that dwarfs Mt. Puerto Rico. Mind you, pain doesn’t discriminate. Therefore, everybody must pitch in, today!
John S. DelRosario Jr.
As Gonno
