Comments on: 2015 Edition Of Facts And Figures Released

By: Zevon

Zevon — Wed, 06 Jan 2016 22:39:59 +0000

First, you’re mixing up numbers. Deliberately, I’m guessing.
They just arranged a $200m facility, not $300m. And if that’s not drawn down until, say, mid-2017 (which appears likely) then we’re actually talking about $1bn borrowed in just under 5 years. That compares to $1.5bn borrowed by the PLP in about 6 years under Cox/ Brown.
Looking at it another way, under the PLP the debt increased by about 8x, or by 800%, in 6 years.
Under the current government it will have increased by 60% in 5 years.
Given the godawful freakin mess the PLP left behind, I’d say they’re doing ok. The rate of disaster has slowed down a lot.

And what could they do different? Every time there’s a discussion about reducing spending by any meaningful amount, the PLP/BIU/People’s Campaign start whining, striking, marching, holding town halls.
And Bean’s great promise is to “roll back spending to 2013 levels”. In other words, he wants to spend more. Oh what big surprise that is. All the PLP can talk about is spending MORE. Spend money on CCTV around schools. Spend money on renovating Sandys 360. You name it. Boy, those people love spending borrowed money.

By: Chili Pepper

Chili Pepper — Wed, 06 Jan 2016 18:17:34 +0000

Yes you are correct Serengeti. However take off your naivety-tinted glasses for one minute and see the trajectory…given how much they have borrowed in just three years (close to $1.1 billion)…and given how much the BDA economy continues to consolidate (less workers producing the same output) OBA is on track to mess up and rack up as much debt as PLP over similar time frame.

One party is no better then the other. Both are scamming the public. Example: America’s cup projected to bring in $240 mil (over 3 yrs!!) …but we just borrowed $300 mil ….again to run the government!!! Its a loser’s proposition. We cannot out run a debt that is growing at and average rate of 12% per annum!!!

Bermuda needs a reform government now! Dilution opf parliament’s/Cabinet’s power…so they can do no more harm! Cut the size of parliament by 5, introduce an independent 7 person senate with the power or veto. Change parliaments role to more of an oversight and law making body only. Have a 7 person budget committee comprised of private sector financial experts picked by Governor/senate to control govt. budgets and expenditure independently of parliament. Parliament ruining this country due to the methodology of power in the country. Need reform now!

By: serengeti

serengeti — Wed, 06 Jan 2016 17:17:46 +0000

No. The largest deficits in Bermuda’s history were
2009-10: $375m (the record)
2010-11: $311m
2011-12: $343m

$1,029,000,000 in three years. That added to the $236m in 2008-09 and $215m in 2007-08.
In five years the PLP spent $1,480,000,000 more than the revenues.

By: Chili Pepper

Chili Pepper — Wed, 06 Jan 2016 16:20:51 +0000

Wow…..“It also shows that the Government of Bermuda’s Total Revenue has gone up from $863.1 million in 2012 to $867.8 million in 2014.”…..what about the part where it shows that the Govt spent $300 mil more than it took in in 2014/15…the largest deficit in Bermuda’s history!!!! Wake up people….govt still scamming the people!

By: Keepin' it Real!...4Real!

Keepin' it Real!...4Real! — Wed, 06 Jan 2016 00:30:08 +0000

I would have loved to see this information before they made it all pretty for you.

By: meh.

meh. — Tue, 05 Jan 2016 17:53:58 +0000

why is the largest industry segment public administration?!

By: No

No — Tue, 05 Jan 2016 15:52:53 +0000

Something about having 27 surgeons and 12 dentists per 10,000 people kind of worries me.