Keep wary eye on economic forecasts
The downgrading of Hawaii’s economic growth forecast is notable but not worrisome — yet. After all, what goes up, must come down, right?
Mahalo for reading the Honolulu Star-Advertiser!
You're reading a premium story. Read the full story with our Print & Digital Subscription.
Already a subscriber? Log in now to continue reading this story.
The downgrading of Hawaii’s economic growth forecast is notable but not worrisome — yet. After all, what goes up, must come down, right? And Hawaii’s spectacular run of economic expansion has been upwardly enjoyed for the last nine years: 113 consecutive months, nearing the U.S. record of 120 months.
Still, the revision downward is noteworthy, when it’s realized that a half-percentage downtick in projected growth — adjusting to 1 percent from the previous 1.5 percent — amounts to about $450 million less for budgeting. Gulp. A half-percentage point here, a half-percentage point there, and pretty soon, you’re talking real money.
More tough quotes from Hawaii pols
Folks couldn’t help but watch wide-eyed as U.S. Rep. Tulsi Gabbard of Hawaii notched headlines with her observation: By failing to penalize the Saudi kingdom for its latest scandal, the president was being “Saudi Arabia’s bitch.” Despite the heat of the moment — after all, Gabbard was referencing the Saudi crown prince’s alleged complicity in the brutal killing of a journalist — it was surprising. Hawaii politicians have had a milder reputation until lately, with U.S. Sen. Mazie Hirono offering her own acidic quotes. Even so, is it too much to hope for decorum and cooler temperatures during the holidays?