Gov. Mapp On State Of Territory: 'We Have To Make Tough Decisions If We Want To Survive'
ST. THOMAS — Governor Kenneth Mapp said on talk radio here on Tuesday that the territory’s financial condition demands difficult choices relative to government spending, stating that the territory’s survival depends on its ability to live within its means.
“We’re just at a point where we simply have to make the tough decisions if we want to survive,” the governor said. “Liken it to you in the community that have your family, if you’re a two parent or one parent household and somebody gets laid off or your hours get reduced. Or if you’re operating a business and the season goes off and the revenue is lower, you’ve got to make changes to survive because you can’t just spend the way that you normally spend; you can’t do the things that you normally do, so you must make the adjustments in order to remain balanced.”
The governor’s frank assessment of the territory’s condition comes at a critical time for the U.S. Virgin Islands, with residents seeking bluntness from its government relative to the islands’ true financial state. The government has been unable to access the capital market since January, and the ratings agencies have continued to downgrade the territory’s bonds, which are already at junk status. For his part, Mr. Mapp said the tough decisions have come through sizable cuts in the administration’s 2018 budget.
“It’s about the total Virgin Islands community, it’s about sustaining jobs, sustaining the level of services, growing the economy and creating opportunities for the people of the Virgin Islands,” Mr. Mapp said on WSTA, 1340 AM. He said the cuts were not to punish any one person or department.
Read more: http://viconsortium.com/featured/usvi-governor-says-tough-decisions-must-be-made-for-survival/
