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Thursday, May 14, 2020
COVID Borrow and Spend Plan will Burden Taxpayers for Years to Come
By Keli'i Akina PhD @ 2:49 PM :: 3238 Views :: Hawaii State Government, Taxes, COVID-19

Honolulu, Hawaii news, sports & weather - KITV Channel 4

Keli'i Akina Challenges Lawmakers' Plan to Increase Borrowing and Spending

Says Plan Will Heavily Burden Residents

From Grassroot Institute, May 13, 2020

HONOLULU, HI -- May 12, 2020 --  In an interview with Paul Drewes of KITV4 News, Keli'i Akina, President of Grassroot Institute of Hawaii and an OHA Trustee, challenged legislators to re-think their plans to borrow and spend as a strategy for economic recovery from the Coronavirus. 

In addition to expressing concern over the state spending down its rainy day fund, Akina criticized the plan of lawmakers to take hundreds of millions in cash from several funds and issue general obligation bonds instead -- money that will have to be paid back later, with interest.

"Whatever is borrowed now will have to be paid by taxpayers. We should tighten our belts, reduce spending and take the hard-hit now.  The legislature should be doing what households are doing now, looking at cutting expenses and doing it aggressively," stated Akina.

The complete interview and KITV4 segment can be viewed at >>> KITV.



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