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Sunday, July 3, 2022
HomeNewsArchivesCRISIS NEEDS FRESH THINKING, FINANCIAL PLANNING

CRISIS NEEDS FRESH THINKING, FINANCIAL PLANNING

Dear Source,
I read with great interest the article on Sen. Lorraine Berry's proposal to emulate the financial restructuring of Washington, D.C. (See Berry seeks U.S. backing for financial board.)
Without much other information to go on, I am not sure if I am in favor of such a move, but I do know that I am wholeheartedly behind such creative thinking by one of our leaders. I hope the other senators give this idea the consideration it deserves and don't dismiss it as merely a "mainland remedy", which will doom it from the start.
This financial crisis will not be solved by borrowing and taxing; it will not be solved by biting the very hands that feed the territory by penalizing businesses and tourism; it will not be solved by the quick fixes of casinos, video gaming and lottery which only serve to further impoverish the people of the territory. It will be solved by well-reasoned, long-term financial planning and if it takes the federal government to do that then I am behind it 100 percent. I am encouraged to see someone with a fresh idea and a vision of the long-term future, not just the next government payday.
The government payroll is huge, freakishly huge. Where else in the United States does the government employ such a large percentage of the population?? I hope to see more forward-thinking leadership for the Virgin Islands; the voters should demand it immediately and support it wherever it appears.
Sue Seibel
Chicago/St. Croix

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