Quantcast

Tuesday, July 29, 2014         

 Print   Email   Comment | View 15 Comments   Most Popular   Save   Post   Retweet

State legislators end $11.2B budget stalemate

By Derrick DePledge and B.J. Reyes

POSTED:
LAST UPDATED: 07:17 a.m. HST, Apr 28, 2012



The handshake finally came just before 3 a.m.

When state Rep. Marcus Oshiro and state Sen. David Ige agreed early today on an $11.2 billion state budget and a capital improvement project outlay, it ended the longest stalemate over the budget in recent memory.

A difference of opinion over how much money to invest in bond-financed state construction moved from philosophical to intractable, pushing negotiations past a Friday midnight deadline and prompting House and Senate leadership to extend the cutoff for other finance-related bills until Monday morning.

Negotiators approved $428 million in new bond-financed state construction, including $250 million for repair and maintenance projects, more money than the House and Gov. Neil Abercrombie had proposed but less than the Senate had wanted to spur economic recovery.

The additional money takes the general obligation bond portion of the budget to $825 million next fiscal year.






 Print   Email   Comment | View 15 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(15)
You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Changalang wrote:
Strong work guys !
on April 28,2012 | 07:21AM
1local wrote:
All show. lawmakers are the pawns of Unions. Spending money the taxpayer will be forever liable for. Poor fiscal policy in all facets of government...
on April 28,2012 | 04:43PM
Changalang wrote:
Umm, have you seen how the world regards spending lately? Get with the new millennium.
on April 28,2012 | 05:30PM
bender wrote:
The simplest way to resolve this would have been to agree to not borrow any money at all. In order words, live within your means.
on April 28,2012 | 07:47AM
Ewaduffer wrote:
Exactly!!!
on April 28,2012 | 10:52AM
pakeheat wrote:
You know how it is, democrats tax and spend, nothing has changed, LOL.
on April 28,2012 | 01:00PM
localguy wrote:
Spot on. Once elected to office, our bureaucrats do an immediate common sense dump, thinking money from taxpayers is free for them to use for their own projects. Wasting our tax money is not their concern, just kick the can down the road for someone else to clean up. Had they all acted like professionals this budget would have been finalized well before the deadline. Why can't they work on time? Sad to say this is what our bureaucrats do, crisis management of their own creation. Give us a break.
on April 28,2012 | 01:06PM
IAmSane wrote:
╔═════════════════ ೋღ☃ღೋ ════════════════╗
~ ~ ~ ~ ~ ~ ~ ~ ~ Repost this if ~ ~ ~ ~ ~ ~ ~ ~ ~
~ ~ ~ ~ you are a beautiful strong black woman ~ ~ ~
~ ~ ~ ~ ~ ~ ~ who don’t need no man ~ ~ ~ ~ ~ ~ ~
╚═════════════════ ೋღ☃ღೋ ════════════════╝
on April 28,2012 | 02:37PM
Ronin006 wrote:
Borrowing money does not solve anything and is very irresponsible. It may get current legislators a few votes from construction workers in the upcoming election, but it creates major problems for future legislators and taxpayers because the borrowed money plus interest must be paid when the bonds mature. Legislators have been silent about how the borrowed money will be repaid. They are not concerned about that because most of them will be out of office when that occurs. Let others worry about that. As goes Greece, so will go Hawaii.
on April 28,2012 | 02:51PM
inverse wrote:
As others have mentioned, for the City and State to take out BILLIONS in bonds is the same thing as taking out a loan that has to be be eventually repaid WITH interest. In short time City and State will take out many BILLIONS in bonds to pay for a train to nowhere, take out 1 BILLION for State construction projects, take out a another BILLION or two for EPA mandated sewage upgrades for Oahu, etc. This will NOT turn out well for Hawaii taxpayers in a few years time when all the bonds taken out come due, However in the short term, special interest groups and elected officials who stand to personally benefit from their special interest ties will make out well for themselves and their union members.
on April 28,2012 | 03:36PM
tiki886 wrote:
It's unfortunate that prospective political candidates who may make the right fiscal decisions to restrain government from spending, borrowing and overtaxing their citizens are never elected. These fiscally minded candidates would be accused and labeled as greedy, insensitive and out touch with the needs of the people. So be it. That's why Hawaii is an economic basket case headed for bankruptcy and ruin.
on April 28,2012 | 05:55PM
Changalang wrote:
When politicians figure out that they can bribe the people with their own money, democracy will fail. Now, who said that? More importantly, how long ago did democracy fail and what shall we call what we have now?
on April 28,2012 | 07:57PM
Changalang wrote:
Answer: I suggest Crony-Corporatism. In such an environment, it is better to be a supporter of "The Company"; than an obstacle. It was been this way for long time. It is hard for old school patriots to accept that the country they love only exists now in their own non-coping mental paradigm. Adapt, or die. Subversion has more leverage from within.
on April 28,2012 | 10:56PM
ejkorvette wrote:
Great Job Hawaii Legislators, Everyone of you are Completely Incompetent!! Your Quest to make Hawaii a 3rd World State is Right On Track! Think crime is bad now, Just wait!
on April 28,2012 | 07:06PM
saywhatyouthink wrote:
Yea... let's borrow more money to "spur economic recovery", that'll work right?
on April 28,2012 | 09:53PM
IN OTHER NEWS
Breaking News