Monday, April 23, 2007

69. Saipan and the CNMI's Economic Woes

Here's what they're hearing about us in D.C.

TestimonyFromGAO The written report is from Jeannette Franzel, Director of Financial Management at the GAO. The testimony is given to the Subcommittee on Insular Affairs (Natural Resources Committee) in the House of Representatives.

Pete A. says our declining economy is a shame. Variety4/23/07 And the committee members and others asked questions, commented, and looked for solutions, as reported here. But what I find most notable and what I completely believe is the assessment that the CNMI has repeatedly failed to achieve responsible financial accountability.

And it is this lack of competence that adds to my strong opposition to casinos and gambling in the CNMI. We couldn't handle the watchdog responsibilities. Same for nuclear power plants here. We can't manage clean audit reports about our taxes, our capital assets, our utilities.

Before we take on bigger challenges, we need to learn the basics.

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