June 28, 2012Dear Sir,The Progressive Labour Party proudly proclaims that it has spent $1.38 billion on capital projects since 1999. PLP, please provide the fully detailed list with estimated and final costs, because I find it hard to believe based upon the failing infrastructure I see all around our island home. Assuming the figure is correct, then $1.38 billion works out at about $100 million a year since the PLP came to power. A tiny fraction of the tax revenue the PLP received and less that the debt and interest sum that the PLP has generated. The bad old United Bermuda Party completed many major capital projects in their final 13 years in control of our finances but they also managed our tax payments with a current account surplus and passed on to the PLP a relatively tiny $160 million of total debt after 30 years in financial control. Bermuda was the envy of the financial world and remained so while Eugene Cox controlled finances, but we are now close to becoming a laughing stock.The PLP think absolutely nothing of taking on $160 million or more of additional debt every single year. Where has all this money gone? The PLP has received up to 80 percent more per year in tax revenue that the UBP ever received and still does so. The PLP has now borrowed $1.45 billion that is costing us close to $85 million a year in interest payments alone. Services and support to the needy are cut because of the $238,000 sent overseas every single day to pay interest on debt to our new “masters”.Many conservatively managed countries rode the worldwide recession with barely a hiccup; many others are now emerging from their difficulties. Those that spent unwisely and then borrowed to spend more are still in trouble. Of those still in trouble, Bermuda is sinking deeper and deeper into debt while others are seeking a way out of their self inflicted troubles. The PLP supporters continually ask the One Bermuda Alliance and UBP to advise them on how to get out of the financial mess that they, the PLP, have got us into. This is clear evidence that the PLP haven’t the foggiest idea themselves and the sad part is that the PLP’s core supporters are the ones suffering most under the mismanagement of the peoples purse by the PLP. The PLP are a disaster and unless we can get a government with players who have at least a basic understanding of economics we are doomed to third world status. I am truly frightened by the harm the PLP have done in such a short period of time.NEARLY RETIREDPembroke