Members of the Hawaii House of Representatives will host an Informational Briefing on Government Debt on Tuesday, October 11, 2011 at 10:00 AM in the State Capitol, Room 309.
The purpose of the briefing will be to discuss the impact of the national and state debt crisis on Hawaii’s future and ways to control excess government spending. At the national level America is borrowing 40 cents of every dollar we spend. This is unsustainable.
“Hawaii’s families carry the third highest per capita debt burden in the United States, more than $23,000 for every person who lives here,” noted Rep. Gene Ward who will convene the Informational Briefing.
“Hawaii is facing an economic tsunami with unfunded pension and health costs approaching a staggering $22 billion,” warned Rep. Barbara Marumoto who will co-convene the Briefing.
The Briefing will feature national and local specialists including Ms. Shiela Weinberg from the National Institute for Truth in Accounting, Mr. Paul Brewbaker, the former Chair of the State Council on Revenues, and newly appointed State Chief Financial Officer Mr. Kalbert Young.
“We need a real conversation about what government we can afford,” Rep. Gene Ward stated. “We are at a defining moment in Hawaii and we need to focus on options for State legislators to address the looming fiscal burdens and steps individuals can take to weather the economic storms on the horizon.”
The public and media are invited to attend.