The Honolulu Star Bulletin wrote:
"The state's financial picture is worse than thought, according to the Lingle administration, which said today it has discovered a clerical error that mistakenly boosted the state's general fund revenues by $44 million."
The Honolulu Advertiser wrote:
"Gov. Linda Lingle today announced that there was an overstatement of general fund revenues for the fiscal year that ended on June 30, 2009 (FY09). Actual general fund revenues were found to be $44 million below the amount reported by the state's Financial and Accounting Management Information System (FAMIS)."
Both newspapers quoted Governor Lingle's comments:
"With the recent discovery of the recording error, we have an additional $36.8 million shortfall, and the need for immediate solutions to close the budget gap becomes more urgent than ever," Lingle said. "The administration is committed to continue working toward this goal."
I guess the question is, "What happens next?" I'm afraid to think what the options are. I haven't heard anything yet but it can't be good.
How did things get so bad? Where did we go wrong? It seems not long ago everyone was bragging about how good the economy was. How Hawaii was the leader on so many fronts. We were giving away tax credits and corporate incentives. We seemed to be so "rich" and now, we are so "poor." In fact, some would argue that we could be facing bankruptcy. If we were a business, we would be done.
So, where do we go from here? More furloughs and layoffs? Tax increases? More sacrifices by the common folks? Whatever it is, I can assure you that it won't be pretty. We will be asked to pay the price for years of wasteful spending and a growing government. Is this fair? I think not!! God bless us all.
We predict, the next action taken by the Gov. will be to give the Retirees' IOUs. The State has already tried to FORCE active employees and retired employees to purchase their prescription drugs from a pharmacy in florida justifying lots of savings for the State & Counties. She didn't care if it would cause hardships for everyone especially the disabled and seniors. Why should she, she's taken care of. I forsee, the State going bankrupt soon. Already the Medicaid program has been raising the eligibility standrds and lots of people are struggling to obtain medical & drug coverage. Government Officials MUST BE HELD ACCOUNTABLE - NO MORE EXCUSES!!!
ReplyDeleteCan you believe this? They counted $44 million TWICE? They did not communicate with each other? What else are they hiding from us?
ReplyDeleteThey violated the law which requires a balanced budget. The budget was not balanced. Now what? Hey Lingle, is someone going to be disciplined for this? Or is this not significant enough. This is a direct reflection on how our Governor does business. She is not competent to run a State. This is another sad day for Hawaii.
I think we are closer to bankruptcy that we think.
So mismanaged, although we had so much extra money, and things were sailing along so splenidly, the state didn't put money aside for a rainy day fund.It's so easy to spend other people's money... does the word unsustainable ring true??? The state is bankrupt in many ways. Take away the tax credits for the biotechnology companies.
ReplyDeletesigned, no money for food
Just remember next year, dump all incumbents & put new leaders who don't have any baggage. Even inexperience will be better than what we have now.
ReplyDeleteHey, right on...let's begin by using the "coconut wireless" now. Sounds like a great idea - I agree we could have better run government with those who are dedicated to the people, honest with the highest integrety. Malama Pono
ReplyDeletewasn't 44 million about the same amount lingle wasted on the superferry?
ReplyDeleteI believe you are correct....yeah, that's where all the 44 million went..Wonder why no one's asking where did all the money go? How come there's no ACCOUNTABILITY? Because of their misappropriation our little KEKES are gonna suffa. No can this State Government, yeah!
ReplyDelete