Joaquin “Kin” Pangelinan Perez noted that with 53 days to go until the November election, financial catastrophe for Guam is looming just ahead: Quin“In just a few weeks, the first payment on the bond debt that was borrowed to pay for the tax refunds, to pay for other debts of the government is due. Just a few days ago, [Adelup] announced that the Department of the Interior gave us $111 million. In the same news release, they also said that it’s all gone. It’s all committed already, so you can’t count on that $111 million anymore for any improvements. Seventy million ($70M) of that thing will go to pay debt. Another $15 million will be used to pay tax refunds. Some of it is going to pay the debt for the merit bonuses. Some of it for the Hay pay raises. But all that money is gone, so if there’s ever an emergency, and right now we’re in El Niño — if we have a typhoon between now and December, we’re going to be in a whole lot of trouble… I went through Typhoon Karen, I was here for Pamela, I was here for Olive and a bunch of the other super typhoons. And a lot of people, particularly these young people—I don’t think born for Typhoon Karen—I don’t think they understand. And here’s one thing everybody has to understand. If another Typhoon Karen or a Pongsona hits Guam, Eddie Calvo’s not gonna suffer! His house is not gonna be destroyed. How many of you have seen that fortress up there? You know, all of the fortresses up there. They’re not gonna lack electricity, they’re not gonna lack water. But how about the rest of us?”
Posted on: Mon, 15 Sep 2014 00:16:06 +0000
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