Comments on: ‘Total Debt Has Increased By About $520 Million’

By: wahoo

wahoo — Sun, 23 Aug 2020 10:47:20 +0000

True to form plp not afraid to ask someone else to fix the mess that they caused. What would you give Mr. Ellison in return? Would you promise him oversight on all future government dealings? Perhaps this way he could teach you how to make money instead of spending and borrowing. The plp problem is greed and envy above and beyond all other shortcomings (and there are a lot).

By: Toodle-oo

Toodle-oo — Sat, 22 Aug 2020 17:12:42 +0000

Yeah , it was unconscionable of the OBA after fully realizing the financial position they were handed by the PLP to not fire any civil servants and instead have the gall to borrow all that money to pay them AND meet past PLP obligations !

By: Ben

Ben — Sat, 22 Aug 2020 16:30:02 +0000

The economic downturn would have left us in debt no matter WHO was in charge. The OBA simply exacerbated it, and the PLP is stuck with the bill, much like how Obama was saddled with all the destruction George W. left in his wake.

By: Ben

Ben — Sat, 22 Aug 2020 16:27:18 +0000

Just think: All it would take to cancel Bermuda’s debt is for Larry Ellison to contribute $2.9 billion of his $68 billion fortune to the island. And no, he wouldn’t go broke after making said contribution, either. He’d still be a billionaire.

By: Hey

Hey — Sat, 22 Aug 2020 04:14:10 +0000

We are paying much more. We rolled and added debt. The PLP are destroying this country. Curtis is absolutely clueless. That interest rate he secured was shambolic. Absolutely clueless.

By: Ringmaster

Ringmaster — Fri, 21 Aug 2020 21:14:30 +0000

If the Premier had any sense he would throw the election because when he wins he will see the downfall of living standards for the electorate and the PLP itself, assuming he survives as leader after October 2 which is doubtful. The debt has now reached the point of no return, and good luck to people retiring in the next 5 years, especially Government employees. While there may be statutory requirements to replenish any shortfall from the General Fund, the GF itself will be empty with no way to fill it.

By: Vortex

Vortex — Fri, 21 Aug 2020 18:25:32 +0000

Let’s put it in simple terms. Paula Cox started this debt and successive PLP administrations have made it worse until today it is at its worst ever.

On the day Burt calls an election, an ugly, selfish decision.

So vote them out Bermuda, see through this.

By: Joe Bloggs

Joe Bloggs — Fri, 21 Aug 2020 17:15:50 +0000

“Total debt has increased by about $520 million, the average interest rate on the entire portfolio has decreased by approximately 59 basis points or 0.59%”

Ok, but what does that mean in practical terms? Are we paying more now than last year at this time because of the increased debt or less because of the reduced interest rate?

“After factoring in the impact of lost revenue, additional expenses relating to the COVID-19 pandemic and the Government’s cost-saving measures, our current estimate of deficit for the 2020/2021 fiscal year is $225 million.”

Another day older and another 1/4 billion in debt