THE WAY OUT
(Part 3 of 3 about the Constitutional Amendment Act of 2007.)
OK Owen and the rest of you. The truth is out. You have been caught in your parliamentary skullduggery red handed. The only honourable way out is for you to do what kids are made to do in school these days when they have been bad. Own up. Apologize. Tell the truth about how bad things are and how we might fix them.
Here is what you can do to regain some credibility and make us think you are leaders that can start finding a way to work out of the financial mess this country is in.
When you introduce the bill in Parliament admit that it is flawed and needs further study. (editor: too late for that now – it has already been rammed through) Then with the time you save which was going to be used for ‘debate’ i.e. glorious and misleading speeches about what a great thing this amendment is, please stand up and answer the following questions in simple and plain English:
How much does the country owe today?
How much debt has the country guaranteed?
How much money is required each month to service those debts?
What are the country’s expenses each month i.e. how much does it pay out each month not counting debt servicing?
How much money does the country collect each month from all sources?
If the net is negative i.e. more is going out than coming in (don’t fib here we know it is true) – how are you going to bridge the gap?
If the answer is to borrow more to bridge the gap then how much more and tell us how this reliance on debt to service debt cycle is going to stop before Barbados is bankrupt?
How are we going to pay back the debt? How long will it take?
Answer those questions publicly and sit down after an honest day’s work. We really don’t need you changing the accounting rules. We need to know right now just how much trouble we are in.