Hawaii’s Government Debt with Kalbert Young

The purpose of this informational briefing is to discuss the impact of the national and State debt crisis on Hawaii and our future economic well-being. Hawaii residents carry the third highest per capita state government debt burden in the United States, an estimated $25,000 for every man, woman and child who lives here. Governor Abercrombie has warned that Hawaii is facing an economic storm with unfunded pension and health costs approaching a staggering $22 billion.

The Informational briefing was hosted by Representative Gene Ward and Barbara Marumoto. For more information contact repward@capitol.hawaii.gov or repmarumoto@capitol.hawaii.gov

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“Government Accounting: The Seen and the Unseen – Briefing by Shelia Weinberg

Sheila Weinberg spoke in Hawaii on “Government Accounting: The Seen and the Unseen — What Needs to be Done?”

The event was Convened by Rep. Gene Ward and Rep. Barbara Marumoto

Institute for Truth in Accounting
1500 Skokie Blvd, Suite 304
Northbrook, Illinois 60062

Phone (847) 835-5200
Fax (847) 835-3470

Sheila Weinberg, Founder & CEO
http://www.truthinaccounting.org

Representative Kymberly Pine released the following statement regarding the alleged financial abuse of an elderly man, Lawrence H. Dorcy

“The case of Hans M. Kanuha and Laurence H. Dorcy shows that it is all too easy to get a hold of an elderly person’s assets here in Hawaii. There needs to be more protection in place that prevents people from conning an elderly person into giving everything away.   The legislature has not done enough.”

 

Rep. Pine introduced HB 1465, relating to powers of attorney, which is still alive in the legislature.  HB 1465 requires that anyone seeking power of attorney for an elderly person must have at least two signatures. She believes that someone from an elderly protection agency should be the second signature.  This would ensure a double protection should the overseer believe that the elderly person is not mentally fit to make these decisions or if the elderly person is being threatened.

 

“Having a power of attorney gives you power to take over everything in someone’s life.  You have the ability to change someone’s will in your favor, take ownership of their assets and their money or even have the person adopt you.  Mr. Dorcy’s case could have been prevented had we put safeguards like this in place,” she said.

 

Mr. Kanuha was adopted by Mr. Dorcy two months before Mr. Dorcy died.  Kanuha could inherit $70 million from Dorcy’s estate.  Mr. Kanuha had previously inherited a Kula gasoline station from one elderly woman and a Kula home from another.

HB 1465 Link: http://www.capitol.hawaii.gov/session2011/bills/HB1465_.htm

 

 

MEMBERS OF HOUSE OF REPRESENTATIVES TO FOCUS ON GOVERNMENT DEBT “HOW WILL OUR CHILDREN PAY FOR OUR OVERSPENDING”

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.

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