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Feb 27, 2008

CNMI Lowest Among Insular Areas

That is the title of the story run by Pacific Magazine, a Hawai'i based magazine, on today's headlines on both local newspapers. The articles reported that the CNMI had scored low in the recently concluded "Performeter" a study of the CNMI's financial health and performances initiated by the Office of the Insular Affairs.

Reports said that the CNMI's latest score is relatively consistent with that of prior years. "The Commonwealth scored 3.18 in 2002, when the Performeter study was first conducted by Crawford & Associates CPA. The score declined to 3.11 in 2003, and further plunged to 2.24 and 2.25 in 2004 and 2005," said the reports.

The report also mentioned that the CNMI has been relying more and more heavily on revenue it does not control, such as federal grants. "In FY2006, the CNMI had direct control over 68.4 percent of its revenues, down from 77.5 percent and 76.7 in 2004 and 2005."

So what could be the impact of this study to the CNMI and its relations to other US territories? What was the objective of the study?

Public Auditor said in the article that he is hoping that the local government would use the data constructively, instead of engaging in a blame game.

17 comments:

glend558 said...

You ask, what was the objective of this story. Well it tells the truth about the CNMI's fiscisl affairs. If you listen to the governors they say, 'pretty darn good' and the latest 'we have balanced the budget the last two years'. All are lies and bullshit. Now you see the unbiased truth. Isn't it better to know the true situation than a politicians rhetoric. Probably no one cares anyway.

Anonymous said...

The performeter is a true indication of just how screwed we are. We are going nowhere and will never recover unless we cut the fat and spend less and make more. Its basic economics 101.

Ron Hodges said...

The Saipan Chamber of Commerce is in Washington DC today lobbying federalization of labor & immigration and supporting the freeze on minimum wages here. This is the never ending story. Our business leaders here are now strong arming Nuns to advance their agenda (North Star- "A Slave is a slave is a... by FR Joe Billotti). how could freezing minimum wages help our crippled economy...that is economics 101.

Anonymous said...

Vote heinz dave 2009 because they support higher minimum wage.

G00$eBanger said...

'So what could be the impact of this study to the CNMI and its relations to other US territories?'

None. It'll be forgotten by week's end.

g00$ebanger said...

. . . and besides Ron, Glen and a few others- Who cares? The little bigshots on the hill are still getting their outrageous allowances, working their deals with the Chosen Few. There's no incentive to change anything.

Tina's diatribe last week is already forgotten.

g00$ebanger said...

Sorry to hog space on this topic, but it was just suggested that maybe my last comment should have referred to the 'Chosin Few'.

Sure looks that way around some neighborhoods, certainly along the Southern portion of Middle Road.

But not to worry... the Marines are coming.

Rick Jones said...

Still not sure how raising minimum wage is going to help the economy, especially since considering that most of it paid to our guest workers would just be remitted back to their home countries.

So, we would make it harder on employers, who would have to raise prices, therefore making it harder on the average consumer, all without creating the influx of cash into our general economy that we would supposedly get out of the increase.

Great Idea.

Anonymous said...

mabuhay mr jones,

could you support your family on $3.55 an hour? maybe if us contract workers were making more we could spend more.your have a rascist sentimentality to belive that all of us workers remit 100 percent of our money.can you come over to club v on weekends? who is mosly there? pilipinos! we make very little and remit to help our families in the philippines. is that oru fault? for your infomation, we may spend more if we make more. you should be more concern about the cost of gas and electricity because that is more detrement to your business here.

taotao tano said...

Lania rick why you complain ha? Fan makilu haole! Taotao tano will boycott your restorant from now on!

lil_hammerhead said...
This comment has been removed by the author.
indgnusboi said...

yeah right. taotao tano will have plenty lunches and dinners with the consulat there.

Anonymous said...

Let's see the owners of 360 go home with 3.55 an hour in their pocket. Yeah right... belatsu. I'm never eating there again.

Anonymous said...

U don't want the minimum raised mr jones! Then our people will boycot u restaurant java joes!

Anonymous said...

Rick jonas for governer. He supports slave labor wages like uncle bentan.

lighten up said...

Wow. Guys don't be so damn sensitive. Rick is just giving his opinion.

Jeff said...

Exactly. Grow up!

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