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Friday, January 28, 2011
GOP: Moody’s puts $7,987 price tag on Hawaii Democrats’ failure
By News Release @ 2:37 PM :: 4566 Views :: Energy, Environment


News Release from

Today, Moody's Investors Service just put a price tag on the failed leadership of the Democratic Party in Hawaii.  According to Moody's, Hawaii has the highest debt burden in the nation.  Because the Democrats keep spending beyond our means, every man, woman and child in Hawaii now owes the State $7,987.00. 

As Hawaii Democrats kept spending, raiding special funds and increasing the size of State government, they have forced the rest of us to pay for their mistakes and lack of leadership.  Moody's points out that Hawaii's State and County Employee Retirement System fund is now rated at the bottom 20 nationally.

"The tab for the Democrats' lack of leadership and willingness to reward their friends, like union bosses, now comes due," said Hawaii GOP Chair, Jonah Kaauwai.  "We simply cannot afford these good old boys who when the party's over, stick us with the check," he said.

Kaauwai pointed to Abercrombie Appointee, Dwight Takamine, as a prime example of Democrat business as usual.  "As House Finance Chair, in 1999, Takamine amended a bill to underfund the Employees Retirement System.  The Hawaii State Supreme Court ruled that was unconstitutional in 2007.  And now Governor Abercrombie nominates Takamine to an appointed position, after he left the State and County retirement system in a shambles, so Takamine can get his "High 3" off the back of the hard working men and women in State and County government, and their only solution is to tax pensioners and soda.  "There is no greater sign that the bad old days of 'Reward your friends and punish your enemies'." Kaauwai said. 

Kaauwai concluded that "Hawaii needs to wake up because the Democrats are spending even faster as they can tax, and right now, they're in overdrive." 



RELATED: Moody’s: Hawaii bond rating at risk

SA: Hawaii’s debt burden highest in nation



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