February 18, 2011Dear Sir,According to the 2011-2012 Budget Statement, we are projected to spend $70 million on the interest we owe on our debt. This is more than we are projected to spend on the police ($65.7 million). In short, we will give more money to (foreign) creditors than our entire Police Service. This is also more than we project to spend on the entire Ministry of Youth, Families, Sports and Community Development ($66.2 million). This Ministry includes Child & Family Services, Community & Cultural Affairs and Financial Assistance. This is also more than double the projected Tourism budget ($30.2 million). Do we still want to defend the debt as an investment in Bermuda?KENT SMITHSt George'sPs I would also mention we need to repay this debt at some point but I would be labeled an “alarmist”.Risk of social unrestFebruary 17, 2011Dear Sir,The multi-million dollar question is, “How to get back on track?” There are several articles in today's Royal Gazette that make perfect sense when they merge as opposed to each suggestion being “the only way out …” You see, Shadow Finance Minister Bob Richards made perfect sense with his “two cents” on how it will be to the advantage of all parties concerned if the Government were to cut out some of the red tape. That appears to be one of the major obstacles in creating more jobs as well as maintaining existing business … showing each how it is advantageous to them (as well) if they were to stay on board, and weathering these difficult times with the rest of the Island.Then there is a relevant point put forward by BDA's Finance spokesman Michael Fahy. I quote: “Be ready for the Premier to blame a worldwide downturn for the problems we face, rather than her own failings to manage the public purse,” Mr Fahy adds: ”Be ready during the Budget debate for the Government to blame everyone and everything but themselves to explain their over spending, terrible oversight of capital projects, qualified audits and some ballooning Civil Service without regard to proper and sound management.”And this statement put forward by Auditor General Heather Jacob Matthews: “It seems to me a lack of monitoring…You have to prioritise what you can and cannot do and those that are a low priority you cannot do. We have to do this to ensure the deficit is not as high as it is. This year it was $300 Million spent in excess of revenues, and that is significant”Now finally the solution (put forward by Bermuda College lecturer Mr. Craig Simmons): “An aggressive austerity Budget would create heighten tension between the Government and the unions. In such an environment, the risk of social unrest would be at its highest level since the General Strike of 1981. For an austerity Budget to stand a chance of being successful, union buy-in is necessary.”RAYMOND RAYSt George'