Wednesday, May 12, 2010

Honolulu 5th most indebted US city

Would you believe it that Honolulu has one of the worst deficits in the nation?

News Release from Panos for Progress www.FixOahuNow.com http://www.fixoahunow.com/

We all know about the national deficit. It's not a pretty picture and with trillions added for bailout, stimulations and heath care, the whole has gotten a lot deeper.

Many states have deficits but Hawaii has balanced budget so state deficit is close to zero. But only at the surface because the state's retirement system deficit is about to explode.

Least known is the Honolulu city deficit. See list below and read more here: Hannemann/Caldwell Administration Mismanage the City & County of Honolulu http://fixoahunow.us1.list-manage.com/t ... c54ee6dcdf

Honolulu has the fifth highest debt per capita of America’s larger cities (See list below). Note that this debt does not include our inevitable shortfall in rail taxes, the $1.2 billion liability for secondary sewage treatment (the city lost both the suit and the appeal to EPA) or the funds needed for our roads which are some of the worst in the nation and will require billions for restoration (as opposed to the wasteful two inch overlays currently done in a hurry in order to “buy votesâ€