Imagine a financial meltdown

If nothing is done to stave-off renewed efforts by our detractors in Washington to impose a federal takeover of these islands, then we can kiss off strengthening the economic benefits of the free enterprise system that has allowed the NMI the grand opportunity at wealth and jobs creation. Here’s the worse case scenario if we permit lamañana to dictate events:

With less than $100 million trickling into the local coffers, every branch in the local government must terminate at a minimum, some 50 percent of its employees. That boils down to not less than 2,500 government employees who would suffer Reduction In Force because of the lack of revenue generation triggered by our indecision to meet our detractors full-square in Washington.

The legislature would have to reduce its staff by at least 50 percent. Because of the lack of money for its operations, it would also become a part-time legislative body by necessity. Senators and Representatives would have to stay back an additional two hours a day to type-up legislation and committee reports on their own.

Furthermore, they’d be able to taste what’s known in the private sector as “cross utilization” where they turn janitors at the end of the day. It may be a blessing in that I can’t see all 27 members really hard at work to make life better for people outside their chambers. In fact, they’ve done the exact opposite every which way imaginable.

The executive branch too would have to fire more than 50 percent of its employees in order to save money to pay for the most essential public services such as education, health and public safety. The reduction in staff would enable it to vacate privately rented office space in that by then, most offices in government would be empty.

It’s unthinkable or inconceivable that this financial meltdown would eventually take strength down the stretch. But this is the one issue that has given most businessmen constant nightmare. And it would have to be predicated on the inability of local leadership to see the bigger picture, thus the decision to leave it be so we all sink in unison.

By the time our indecision to guard our economic interest takes its permanent foothold, more than 50 percent of the indigenous population would be unemployed as they sing “Swanee River” or other nursery songs of the good old days. Two things would instantly turn into our mouthwash: “It’s the Asian crisis `nai” or “It’s da federal government `nai”. A`saina dios miho na diskuido.

Healthy businesses too would have deployed elsewhere as the island, once a bustling tourism and apparel manufacturing center, turns into a complete ghost town. The factories would turn into empty buildings where the taotao mona would reign. Occasionally, we would visit these empty venues with a sigh of regret that local leadership has failed its citizenry in grand fashion. Most jobless locals would be uttering “Isao miyo ni manma`gas `nai lai”. A`saina lai na inatrasao!

Most of our children attending schools abroad would have to come home because there’s no more money to pay for the scholarship program. It means, NMC would have to carry the extra load of educating them at reduced tuition fees in that most won’t be able to cough-up money for this purpose. With the exception of hotel restaurants, most eateries would close shop and fast food services would only see trickles in the number of customers.

Retirees aren’t that lucky either for they must spread their resources to feed the clan especially families where joblessness is the order of business. As poverty and helplessness take their toll, Uncle Tom (Allen Stayman and George Miller) would sit by desks at the Food Stamps Office to issue coupons for jobless locals. Why not, it’s the “American Dream”, reinvented!