Thursday, March 28, 2024
Hawai'i Free Press

Current Articles | Archives

Wednesday, October 7, 2015
Promising Too Much Endangers Hawaii's Fiscal Health
By Grassroot Institute @ 4:48 AM :: 4294 Views :: Hawaii State Government, Hawaii Statistics, Taxes

Promising Too Much Endangers Hawaii's Fiscal Health

by Keli'i Akina, Ph.D., President/CEO, Grassroot Institute of Hawaii

When a child is born in Alaska, that child can count on $52,300 in wealth that the state government has stored away per citizen.  But when a child is born in Hawaii, he or she can count on $26,500 in debt that the state owes per citizen. 

Truth in Accounting has released their annual ranking of the Financial State of the States, and the findings illustrate the wide gulf between the states that have accumulated a taxpayer surplus (like Alaska) and the 'sinkhole' states that have burdened taxpayers with large amounts of unfunded debt (like Hawaii).

What's the difference?  Some claim that it's because  Alaska is rich in natural resources and infrastructure that Hawaii does not have.  But that's not sufficient to explain why Alaska has great wealth per citizen and Hawaii has great debt per citizen. 

According to Truth in Accounting, which has ranked Alaska #1 among the states in fiscal health and Hawaii #45, the difference has to do with the way state leaders manage the finances of the state: "Alaska's elected officials seem to promise only the amount of benefits they can afford to pay."

Hawaii, on the other hand, through decades of unfunded pension benefits, unfunded retirees healthcare benefits, and other liabilities, has made commitments the state cannot afford unless they are paid by future generations. 

Truth in Accounting continues its analysis of Hawaii: "Unless these pension and retirees health care benefits are renegotiated, future taxpayers will be burdened with paying for these benefits without receiving any corresponding to government services or benefits."

At Grassroot Institute, we are promoting policies that will raise our state's ranking in fiscal health and move us out of debt and into wealth.  In truth, it starts with a very simple best practice:  Spend only what we can afford.

---30---

Related: Hawaii 6th Worst Sinkhole State

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT