Question: Should the Virgin Islands Senators be sponsoring and the Legislature be passing bills to specifically (and solely) benefit a special interest? Did we not learn from the ordeal with Jeffery Prosser and Innovative Communications?
Here's a list of articles you should open in a browser and read through:
Here's a list of articles you should open in a browser and read through:
- http://www.onepaper.com/stthomasvi/?v=d&i=&s=News:Local&p=1212902277
- http://new.onepaper.com/stthomasvi/?v=d&i=&s=News:Local&p=1212901356
- http://www.virginislandsdailynews.com/index.pl/article_home?id=17627849
- http://www.virginislandsdailynews.com/index.pl/article_home?id=17628590
Ok, now let's talk this through.
First, I've heard of earmarks. But, the process in the Virgin Islands is "earmarks on steroids!"
From Wikipedia, we see how the Congressional Research Service defines earmarks:
And then, what is the point of the University of the Virgin Islands?
I thought communities had universities to educate the community and serve as scholars on community issues. But, here's what the Source quoted James Rakocy, professor of aquaculture at the UVI Agricultural Experiment Station as having to say:
Herein lies the problem: no standards, no RFPs, no guidelines, no studies., no accountability..only the whims of the Virgin Islands Legislature. What is the purpose of any other government agency (in this case - PFA)? Why not let the Legislature (with their track record of graft) decide it all?
With a proper appropriations process, funding would be allocated to the various agencies of the Virgin Islands Government. Those agencies would be responsible for allocating funds for various projects through (hopefully) appropriate and accountable policies and proceedures. And, despite its problems, at least an earmark must be sought during the budget and appropriation processes.
Sometimes, we will see industry bailouts. Or, as we see this morning - the bailout of AIG. Yet, knee-jerk reactions that place burdens on taxpayers, do not justify bonehead planning that places burdens on other taxpayers. That too is crazy, though...for the same reasons (see here). But, this situation isn't even a bailout. This is a gift!
So, here we are: outside of the budget & appropriations periods, legislating how money should be spent and with whom it should be spent. What chance do we have in the Virgin Islands when this is the standard? What should we do? Let me hear from you...
Answer the call: Virgin Islands for the Virgin Islanders...those at home and those abroad!
First, I've heard of earmarks. But, the process in the Virgin Islands is "earmarks on steroids!"
From Wikipedia, we see how the Congressional Research Service defines earmarks:
Provisions associated with legislation (appropriations or general legislation) that specify certain congressional spending priorities or in revenue bills that apply to a very limited number of individuals or entities. Earmarks may appear in either the legislative text or report language (committee reports accompanying reported bills and joint explanatory statement accompanying a conference report).This Wikipedia post goes on to say:
Earmarking differs from the broader appropriations process, defined in the Constitution, in which Congress grants a yearly lump sum of money to a Federal agency. These monies are allocated by the agency according to its legal authority and internal budgeting process. With an earmark, Congress has given itself the ability to direct a specified amount of money from an agency's budget to be spent on a particular project, without the Members of Congress having to identify themselves or the project.Also, an earmark is not a bill. It is an attachment to a bill. Why are we passing $33.4 Million dollars in nonexistent funds specifically for a special interest?
And then, what is the point of the University of the Virgin Islands?
I thought communities had universities to educate the community and serve as scholars on community issues. But, here's what the Source quoted James Rakocy, professor of aquaculture at the UVI Agricultural Experiment Station as having to say:
With my 28 years in aquaculture, I have strong desire to see an aquaculture project on St. Croix. However, my 28 years in aquaculture leaves me to question the viability of this plan.Professor Rakocy went on to describe other potential problems with this plan, even citing a string of large-scale operations that have gone bankrupt. Yet, the VI Legislature preferred to take the word of Addison Lawrence of Texas A&M University who "assured senators that this industry - based on the plan as well as the land and climate of St. Croix - would be successful."
Herein lies the problem: no standards, no RFPs, no guidelines, no studies., no accountability..only the whims of the Virgin Islands Legislature. What is the purpose of any other government agency (in this case - PFA)? Why not let the Legislature (with their track record of graft) decide it all?
With a proper appropriations process, funding would be allocated to the various agencies of the Virgin Islands Government. Those agencies would be responsible for allocating funds for various projects through (hopefully) appropriate and accountable policies and proceedures. And, despite its problems, at least an earmark must be sought during the budget and appropriation processes.
Sometimes, we will see industry bailouts. Or, as we see this morning - the bailout of AIG. Yet, knee-jerk reactions that place burdens on taxpayers, do not justify bonehead planning that places burdens on other taxpayers. That too is crazy, though...for the same reasons (see here). But, this situation isn't even a bailout. This is a gift!
So, here we are: outside of the budget & appropriations periods, legislating how money should be spent and with whom it should be spent. What chance do we have in the Virgin Islands when this is the standard? What should we do? Let me hear from you...
Answer the call: Virgin Islands for the Virgin Islanders...those at home and those abroad!
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3 comments:
SO let me get this straight... an expert from the USVI doesn't agree with the science behind this as he IS a scientist, but the Legislature is earmarking anyway even though they are NOT scientists, because someone who doesn't know the area thought it would be feasible? One, that is stupid. Two, that is a lot of money better suited for other things. Three, my tax dollars are totally being wasted.
Why are you saying that the legislature is earmarking ? The USVI does not have $34.3 million dollars to give to anyone. Some other financial entity will be putting the money up. As I understand it, the funds that are to be loaned to this Crucian Holdings firm will not be taken from the USVI treasury. The USVI in this regard would act as a guarantor of the loan, a big ole co-signer.
Now, I'm all in favor of spurring industrial development on the big island and I have no problem with tax dollars being used in this regard. The things that concern me about this deal include the 4.7% interest limit that the senate imposed in the legislation, the speed at which this matter is being rammed through the senate, the overall financial situation in the USVI, the USVI's bond rating (perhaps the senators haven't noticed that property tax bills are in the process of being rescinded. in all fairness, the passage of this legislation does not tie the government's hands as Crucian Holdings will probably have to find a lending institution careless enough to lend them money at a time like this.), and the apparent lack of feasibility studies. I wonder if the senators requested figures on estimated tax revenues that would be generated from the facility. If that 300 full time jobs reference is even 75% true, it may just be a good deal for STX. I just hope when the time comes for corp tax benefits, they don't give away the entire cow.
Mimi! You are right on there. It's crazy: what is the point of having experts testify if we're going to ignore the experts with a vested interest in the local community?
And, Crisis...Welcome! Thanks for pitching in. I agree, the VI doesn't have that money. The PFA said that too...they're trying to find out where the Legislature expects the money to come from. If you're right, that only turns an asinine idea into a horrible idea. But, if that's the case someone needs to tell the PFA they don't really have to worry.
They seem to be following the same path of the Congress' bailout of AIG...creating Monopoly money to pay for pipe dreams, while people in reality are left to fend for themselves. At least AIG is being bailed-out. What is this: Crucian Holdings needs a bailout before the "crisis?!"
Even if we are only a co-signor, why the hell are we taking the risk for an investor? What is the investment there? My parents co-signed a loan for my education - but they're my parents and have a vested interest in my success.
But, we'll definitely have to keep an eye on them before they give away the world!
We must answer the call: Virgin Islands for the Virgin Islanders...those at home and those abroad!
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