There are several major problems that this island is presently facing, which unfortunately our thinkers ,through lack of prudance ,have letgo too far without thought, who were banking on the future, having a mind set of ” one day at time” .

Debt can be devided into several sections, all involving money, that we do not have ,or has become unavailable.

Basically the people of Bermuda have over extended them selves to thier own detriment.

We unfortunately are not the only country who are living on the hope of future economic prosperity.

” My father told me, “Never spend your last dollar”.
” Never borrow more than you have as reserves in the bank”.

Dependant Bermuda has mismanaged our economy ,that and more, as we now have to face up to reality that this country has over extended it self, as the interest on the debt is astronomical that in its self has increased the cost but not the value .

We will be facing years of economic hardship far beyond many of our lifetimes.

The national debt .
Busness debt.
Private debt .
Personal debt.
Interest debt.
Tax liability.

“The chickens have come home to roost”.