States' States Of Affairs - KFVE, K5-Hawaii News, Weather and Sports

April 29, 2010

States' States Of Affairs

What the state government and county governments are going through right now in Hawaii is being replicated all over this country. Many states and cities are in far worse shape than we are out here in the middle of the Pacific. And when the local governments start to run out of money, can't pay their bills, and can't fulfill their fiduciary obligations, someone has to pay.

As the private sector in many areas seems to be starting to make a comeback- hotels, airlines, the auto industry- what happens when the bills come due in the coming months for state and city governments? How will these entities make ends meet? What will get cut, and where will additional funding come from when the normally-expected tax bases and revenue streams simply aren't there? Just when consumers might start to feel more secure about their jobs, their homes, and their futures, will the governments come calling on them to pay a little bit more, and is that a fair trade-off for overall quality of life in our communities?

While some decry the government getting its meat hooks further into our lives and our pockets, what are the options to ensure that so-called essential services continue to be provided and schools remain open nationwide, let alone in Hawaii? Banks, many of whom are still on somewhat shaky ground, are more cautious than ever in terms of loans and projects- and who can blame them? So keep an eye on what comes next both here and on the mainland with lingering money dilemmas, because the remaining economic winds of uncertainty most assuredly have not dissipated yet. Think about it…

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