March 13, 2014

Dear Sir,

In some way I wished the Progressive Labour Party had won the last election. You may wonder why I would think such, as I have vehemently supported the One Bermuda Alliance. May I explain?

The former government spent like drunken sailors, without seemingly a care for the future of Bermuda, and without too much accountability. Our debt skyrocketed as our deficit grew larger. We were spending more than we earned, when we should have been saving for rainy days ahead. The amount government was taking in was less than the amount we were spending. We could not afford to keep doing this for much longer, because our debt was become insurmountable.

The Finance Minister informs us that $100+ million are having to be paid just on interest on the amount we owe. That is without paying any of the principal. You know, like having a 20-year mortgage and only paying the interest on it and not paying any principal, you never get ahead. The only benefactor is the lender, in our case foreign entities.

Do we cut spending, cut social programmes that are sorely needed, increase taxes, somehow grow our hard hit economy. What is the answer? We are definitely in a pickle.

Now we see where the ones that put us in this situation are criticising most ideas suggested to help get us out. I go back to my first sentence. The Government, by winning the election, are now receiving the blame for all the problems we have.

Should we not find ways to turn our economy around, the tasks ahead are not going to be easy or liked. That could result in the government losing popularity and as a consequence, well ... hmmmmm!

I do not know what you think, but many feel that could be the death knell of Bermuda.

CHANGER