Tempted as I am to write more about the World Cup and LeBron James going to my team the Miami Heat; I will refuse. This week I want to talk budget and the economy. Bermudians have become accustomed to what some of my bosses call "Rich Country Solutions". Well guess what, Bermuda and the wider world, it isn't like that any more. More on this after the Top 20.

Still at #1 is My Chick Bad by Ludacris featuring Nicki Minaj. Nicki is making a name and getting it done through good collaborations with well chosen partners. Over, by Drake, halts its rise at #2. Drake is one of the hottest new artists on the circuit. The ladies love him.

Up to #3 is Unthinkable by Alicia Keys. She is all over the place; always on TV, video, shows, performing ... she got game. Up to #4 is Nothing On You BoB featuring Bruno Mars. Climbing to #5 is L'il Freak by Usher featuring Nicki Manaj, a former essential new jam and a banger. Slipping to #6 is Neighbors Know My Name by Trey Songz. Rude Boy by Rihanna slides to #7. Making a move toward the top at #8 is There Goes My Baby by Usher.

Now some bangin' dance tunes, DJLT's favourite. Climbing to #9 is I'm Not A Superstar by Remady, DJLT's favourite track at the moment. Still on a house tip, improving to #10, it's Break Your Heart by Taio Cruz featuring Ludacris, a pop hit for the summer. You gotta check out the video. Falling to #11 is Hard by Rihanna, Slipping to #12 is Hey Daddy, (Daddy's Home) by Usher featuring Plies.

Up to #13 is OMG by Usher featuring Will.i.am. Climbing to #14 is California Girls by the irrepressible Katy Perry, featuring Snoop Dogg, a pop anthem for the summer. Improving to #15 is a former essential new hit: Commander, by Kelly Rowland featuring David Guetta.

Tumbling to #16 is Everything To Me by Monica. Falling to #17 is Tik Tok by Ke$ha, a hottie on the circuit.

Now the new jams. Improving to #18 is the soca Road March Anthem for 2010 – Planc by JW and Blaz. Falling to #19 is Say Something by Timbaland featuring Drake, a former essential new jam. New at #20 is Find Your Love by Drake this week's essential new tune.

Now back to this week's word – the economy. Most Bermudians have grown up under the conditions whereby if we had a problem we just threw money at it. There was an endless (or so it seemed) line of credit, for individuals and organisations, and both took full advantage of this.

But things have changed, for the Government and for the private sector. Companies are hiring fewer summer students this year.

There are fewer jobs in general available in Bermuda. Shops are mostly struggling; I don't know how or why anyone would want to do retail in Bda. It's tough, it's a small market and people are picky. We want Burberry clothes and labels but we wanna pay WalMart or payless prices!

The Government has a national debt that is scary. I was explaining the situation to someone the other day and I put it to them like this.

If a family buys a house, they get a mortage. But the mortgage comes with a payment plan and a formula for the amount one can borrow.

Most people try to reduce their mortgage such that they don't owe money on the asset forever. Let's say a family bought a house for $1 million and they had a down payment of $100,000. So they owe $900,000 to a bank. Since I worked at BNTB, let's say it was BNTB.

These people sacrifice and live modestly, especially at the beginning and over time reduce their debt. However, at various points they might borrow more money, to redo a kitchen, bathroom, etc. But they never and should never increase their mortgage to levels that exceed that orginal $900,000.

Government's debt should be run in the same manner. I know that Governments have to fund programmes but the term fiscal responsibility must be utilised. We have to learn to say no and get the world to understand what we do here as well as our strengths, weaknesses, opportunities and threats.

We have to also get the international community to understand the financial siege we are under. There just isn't any more money.

We have to reduce our national debt. We have to teach Government, politicians and the people of Bermuda to spend less, expect Government to spend less and to have the fiscal discipline to stay the course with such an initiative, until the national debt is in a better space, reduced significantly, and somewhere where we can effectively and comfortably service it.

The rising cost of healthcare is a concern, as is the need to mantain spending on education. However, the correct solution is to find a way to maximise the return on investment in children and minimise waste. The challenge is to identify waste and to be able to follow through when people abuse systems or privileges.

Then there's the sustainable development perspective – we need to grow some vegetables, each of us; we must live off the land more and grow some fruit and vegetables that we can eat. We must find sources of renewable energy and embrace new ways of doing things.

Hybrid and diesel cars must be carefully considered, as they are more fuel-efficient and environmentally friendly.

The lessons we learn during the current recession must be well documented, to assist future generations to address similar problems when they are at the helm and it is their turn.

We owe it to our children and their friends/peers to create the conditions for long term sustainability. Now that we know what to do, let's just go out and do it. Peace … DJLT