Thursday, August 23, 2012



  All we hear in Belize from the government and the media is a lop sided, narrow view from the point of view of the port city townies, who control the government.

  Recent discussions on the debt default debate, both among the MENNONITES and the CHINESE Belizeans in the Western hinterlands, lend a different view of the debt default debate.

  Out here, the view is;  that Dean Barrow the Prime Minister and Finance Minister has called the DEBT DEFAULT right.  HE calls it "DEBT RELIEF."

  Indeed, all ethnic groups out in the WEST agree.  That is all it will be, under the current political system.  " RELIEF"  but not a cure.

  Historically, you could say average government revenue runs between $500 and $600 million a year.  Everything else spent is LOANS and or GRANTS.  While there may be individual years in good times, when government revenues zoom to $800 million or so, it is not reliable income revenue.

  Some changes would have to be made on estimating government spending over the next 20 years.  At an expected average of $550 million per year, ALL government budgets should be set on the $550 million revenue figure, irregardless of new agriculture products, call centers, casino building, oil wells and such.  In years, when the government revenue exceeds $550 million the surplus should be put in cash reserves.  To be prepared for thin years, when we get hit by hurricanes and business ventures go bust.  That presumably would manage the cyclical cash flow problems of government.  Government would then have to be streamlined to fit the costs to the six DISTRICT BUDGETS.  At least that would give us a normal figure, political parties running the government could solidly plan on, years ahead with planning.  That also sends the message that government employment needs to be streamlined and held in check with moratoriums on new hires.

  This alone would not be enough to rein in the spending of uncontrolled political party management.  Warren Buffet, billionaire, came up with the right idea.  Any QUARTER economic report, in which the past four quarters, NEW borrowing in any form, exceeded the total debt over  3% of GDP, needs a LAW THAT WOULD IMMEDIATELY FIRE ALL POLITICIANS IN THE PARTY RUNNING THE COUNTRY AND A NEW BY-ELECTION MUST BE HELD IN 90 DAYS FOR THEIR SEATS AND THOSE WHO WERE SITTING FORBIDDEN TO RUN FOR OFFICE IN THAT NEXT ELECTION.

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